Twitter and payment service provider stripe to enter the electricity business

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Tencent Technology Lin Jingdong January 18 compiled

Twitter may become the next shopping mall on the web.

Twitter will allow users to buy goods directly from the site, according to people familiar with the matter. It is said that Twitter will soon sign a deal with San Francisco's payment service provider stripe to help it develop its electricity business.

This is the first important step Twitter has taken since the appointment of Ticketmaster's predecessor, Nathan Hubbad, last August, as the new head of his electric business. Hubbad is still building its team.

Twitter's promotional offerings have sparked interest among retailers, particularly its "flash-sale" activities. But Twitter does not have a shopping feature, and it seems the details of the shopping experience are unclear.

Allowing consumers to shop directly via Twitter eliminates steps to direct consumers to the retailer's web site, making it more likely that consumers will be able to complete their shopping deals. That would provide Twitter with an important source of revenue, and Twitter's revenues now come mainly from advertising sales.

Twitter still faces a number of challenges in launching its electric business, including competing with Amazon, ebay and Groupon.

Facebook last year revoked its own gift service. Its payments business accounted for about 11% of its total revenue in the third quarter of last year.

Facebook has since last August allowed users to shop for the first time through retailer mobile apps. But that is only a small attempt, and Facebook has a limited role to play in the consumer shopping process. In testing, users who visit a retailer's application can see an option to fill out payment information with information already stored on the Facebook platform.

A Twitter spokeswoman did not comment.