Nathan Hubbard, Twitter’s head of commerce, revealed in an interview that the US-based microblogging company is running tests of a “buy” button that will provide its users with the opportunity to make purchases directly from tweets posted on its service.
Mr. Hubbard explained that Twitters buy button” is in an advanced development phase, and is already working with online-payment company Stripe Inc to allow customers pay for an item without repeatedly entering their card details.
“We want to be a bridge between a consumer wanting something and getting it,” Hubbard said in the interview, which was cited by Bloomberg. “Conversations are happening every second on Twitter with artists and charities and consumers, and many of those conversations are leading to transactions already.”
Some brands already advertise their products withing promoted tweets, but now they will have the opportunity to let their followers make purchases directly within the Twitter posts.
Twitters move comes as the company seeks to further expand revenue streams, tapping deeper in its 271-million user base. Last month it launched a video advertising service, while earlier, in May, it launched a joint service with Amazon,com, allowing users to shop by #hashtag.
Twitter Inc. was 3.23% up to trade at $50.70 per share at 14:21 GMT today. The company is valued at $31.19 billion as of the previous close. According to CNN Money, 29 analysts offering 12-month price forecasts for Twitter Inc. have a median target of $55.00, with a high estimate of $65.00 and a low estimate of $28.00. The median estimate represents a +8.48% increase from the last price of $50.70.
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