Posted by Augustin Kendall on February 15, 2012
With the onset of F-commerce and Google Checkout, it seems only right that Twitter would join the social commerce revolution. And they have (kind of), via a start-up company named Chirpify that “turns tweets into transactions, enabling consumers and businesses to buy, sell, donate, and transact on Twitter.” A survey from Useful Social Media found that 32 percent of users would buy products online through Twitter if it were possible–the company is simply trying to meet an active demand, not to create new demand.
Unlike other social commerce payment methods, Chirpify utilizes a well-established payment platform, PayPal. Users enrolled with the program can purchase goods by simply responding to a sales tweet for a specific product. They can also transfer money to a friend or donate to an organization.
Unfortunately, this is not a way to make free peer-to-peer transfers. Chirpify has multiple fee schedules for businesses, depending on size, and charges a flat 2 percent fee for any personal transfer. However, in all cases, their fees are lower than PayPal fees. Right now, only PowerBar is using Chirpify, but the company’s CEO is confident other brands will follow. Given the ease of use, built-in fraud protection, and low barrier to entry, he may well be right.
Read more at memeburn.com.
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