Marissa Brassfield
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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.  In its simplest form, the service is a quick way to settle a lunch tab or pick up a round of drinks on a friend’s birthday. But Michael D. Ivey, its chief executive and co-founder, says it could also make it easier to donate money during a disaster like Hurricane Katrina or an earthquake. “Ideally we want to enable social giving on Twitter,” he said. “But beyond that, we could enable charitable giving, such as to the Red Cross. We’re very excited to be able to help people do good over Twitter.
(bits.blogs.nytimes)References: twitpay.me, bits.blogs.nytimes Filed In: |
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