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Microblogged Micropayments
Twitpay Lets You Send Money Via Tweet

By: Marissa Brassfield (Superstar) Dec 19, 08

Twitpay is a micropayment startup that aims to essentially Twitterfy PayPal payments, in so many words. Users first must create a Twitpay account and then fund it using an online payment site like PayPal.

Next, they’d post a Twitter update that includes the username of the recipient. An example tweet might look like this: “@trendhunter twitpay $5 for being awesome.” The money is then transferred from your Twitpay account to your recipient’s, and the transaction is completed.

Here’s where things get fuzzy. After you’ve amassed at least $10 in your Twitpay account, you’re welcome to withdraw it—in the form of an Amazon gift card. No cash withdrawals here. And for each transaction over $1, Twitpay takes out a 5-cent fee.

The start-up is controversial at best, but it does pose a curious insight into consumer desire to simplify the way they send money online.

Source: bits.blogs.nytimes
Readmore: twitpay.me

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