Limerick brothers sign Twitter deal

A global credit card payment service founded by two millionaire brothers from Limerick has partnered with social media giant Twitter to allow users to buy directly from the micro-blogging site.

Limerick brothers sign Twitter deal

Stripe, the Silicon Valley- based company headed by Patrick and John Collison, is one of four platforms with which Twitter has partnered to develop in-tweet purchases.

The social media site is working with the Collisons to store credit card information and allow purchases of goods and services directly from the site in just a few clicks.

“We want to be a bridge between a consumer wanting something and getting it.

“Conversations are happening every second on Twitter with artists and charities and consumers, and many of those conversations are leading to transactions already,” Twitter head of commerce, Nathan Hubbard said in an interview with Bloomberg.

Initially, the service will be available in the US only, beginning with a selected group of influential users including musicians Eminem, Ryan Adams and Pharrell.

The service trial will allow users to complete a purchase in just a few clicks, according to the company.

After tapping the ‘Buy’ button, a user will be presented with additional product information before being prompted to enter their shipping and payment information.

Once, it has been entered, the order information is sent to a delivery merchant and the transaction completed.

Earlier this year, Stripe was valued at $1.75bn (€1.3bn) having raised $80m in Series C funding.

The Collisons — from Castletroy in Limerick City — founded the credit card payment service in 2010 to make it easier to bill online businesses.

Following its rapid growth, the company is seen as a potential threat to PayPal although Patrick, 26, distanced his company from such comparisons in January.

Yesterday’s move is the latest effort from social media companies to increase their revenue streams through on-site purchases following Facebook’s failed attempts at allowing users to exchange money using credits which it later discontinued. The California-based company has since introduced a buy button that is being testing on certain ads.

Among Twitter’s other partners on the initiative are merchandise site Musictoday and social commerce site Fancy, with which Twitter co-founder Jack Dorsey is an investor. Twitter’s shares rose 3.8% to their highest level since March at £52.64 (€65.74) following the announcement.

More in this section

IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
Puzzles logo
IE-logo

Puzzles hub

Visit our brain gym where you will find simple and cryptic crosswords, sudoku puzzles and much more. Updated at midnight every day. PS ... We would love to hear your feedback on the section right HERE.

Lunchtime
News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up
Revoiced
Newsletter

Some of the best bits from irishexaminer.com direct to your inbox every Monday.

Sign up