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Social Networks

Twitter, American Express Letting People Purchase Goods Via Hashtag 106

Nerval's Lobster writes "What could possibly go wrong with this? American Express has announced a partnership with Twitter, giving customers the ability to sync "eligible cards" with the social network. Tweeting special product hashtags (i.e., #uselessjunk) will purchase a product via that synced card. American Express will then send a purchase-confirmation Tweet, and the usual shipping-and-handling of the product will commence. For Twitter, the partnership also holds significant advantages. If this initial foray succeeds, it could potentially evolve into a workable e-commerce model, and thus a separate stream of revenue for the social network aside from advertising. Also, research has shown that people tend to spend more money when using credit cards as opposed to cash. It's also quite possible that a streamlined online purchase mechanism—think any number of e-commerce Websites' "Buy Now" buttons—could compel potential customers to buy more often and in larger amounts."

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