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Twitter is now also digital money

By Eko Armunanto     Feb 12, 2013 in Business
An integration system between American Express and Twitter allows people to pay items they buy online with special #hashtags.
This "Twitter Sync" feature was first launched by American Express last year allowing customers to get discount deal by tweeting hastags of special offers. Now the sync system has been extended to allow payments as well.
"We are convinced that commerce is going to be one of the areas (for which) advertisers are going to start using our platform", said Joel Lunenfeld, Twitter’s vice president of global brand strategy, to Wall Street Journal.
E-commerce has been slow to take off on social networks, with retailers who have tried to use their presence on the sites to stimulate transactions reporting disappointing results.
"Get products, offers and more with your synced American Express® Card by Tweeting special #hashtags", said American Express in its website, which also explains the folllowing four steps:
1. Sync your eligible American Express Card with Twitter.
2. Tweet special #hashtags and look for a response from @AmexSync with the confirmation #hashtag.
3. Tweet the confirmation #hashtag within 15 minutes of the response from @AmexSync to confirm your purchase. Your product will be delivered to your billing address on file.
4. Use your synced Card for a qualifying purchase at the merchant within the offer time period to receive savings.
All synced-card users can find the latest products and offers on its Twitter account.
American Express card holders who connect their card numbers to their Twitter accounts can post on Twitter to trigger a purchase of products such as discounted American Express gift cards, Kindle Fire tablets from Amazon.com Inc. and jewelry from designer Donna Karan. The program will roll out over the next few days. Starting Wednesday, a $25 American Express Gift Card can be purchased using a synced American Express Card for only $15 by tweeting #BuyAmexGiftCard25.
The Twitter Sync feature will only work with compatible American Express cards (no prepaid or corporate cards) and a public Twitter account. Protected accounts aren't allowed, so there's no way to take advantage of a discount without it being public information. Each purchase in this case is not only money for the various companies involved, but also an automatic promotion for the product and its brands.
American Express expects to expand the number of merchants offering product purchases on Twitter. The Twitter coupon program started with 16 merchants last year, and hundreds of merchants have participated since then.
"We expect a lot of interest", said Leslie Berland, senior vice president of digital partnerships and development at American Express, to Wall Street Journal.
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