Twitter mulls e-commerce foray with Stripe collaboration

E-commerce

by CBR Staff Writer| 17 January 2014

The deal would allow Twitter users to buy goods directly via the micro-blogging site just by tweeting.

Twitter is considering teaming up with online payments service Stripe, as part of its efforts to foray into e-commerce industry.

The anticipated deal would allow Twitter users to buy goods directly via the micro-blogging site just by tweeting and transforming it from a platform used by retailers for advertising purposes to a platform selling products via online payments.

Reports revealed that the deal is in its final stages, indicating that the micro-blogging site's seriousness about facilitating brands, retailers or manufacturers to sell their products directly via Twitter.

Allowing users to buy products via Twitter would eliminate redirecting consumers to the retailers' site, offering Twitter a new source of revenue, which currently depends mainly on ad sales.

However, Twitter would still face challenges in launching an e-commerce initiative, as it has to rival Amazon, eBay and Groupon.

Factors including launching IPO in November 2013 and the latest anticipated deal with Stripe would take Twitter towards profitability and retrieve investors' confidence in its shares hyped 'too pricey'.

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