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article imageTwitter buys CardSpring as a foothold into e-Commerce

By Simon Crompton     Jul 21, 2014 in Technology
With sights on creating its own e-commerce platform, Twitter will soon reach this goal with the recent acquisition of CardSpring. The cost of deal has not yet been revealed, but the feature will be soon forthcoming.
Twitter users will soon be able to connect with retailers in real-time and purchase deals that can be redeemed at a later time, using card-based deals from CardSpring. This brings a whole new level of functionality to the micro-blogging site that keeps businesses and people connected.
CardSpring brings businesses and consumers closer through a mobile payment infrastructure. They have seen widespread success in enhancing the functionality of debit and credit cards. Their product allows cardholders to link their cards to merchant's special deals, loyalty programs and discount coupons, allowing for effortless participation with every card swipe.
Individuals can use CardSpring on their eCommerce sites, including those running Magento. That brings the technology to half a million retailers who use Magento themese, available form Fire Checkout, to run their stores.
Leveraging CardSpring functionality along with Twitter's powerful social media engine allows Twitter to deliver deals and discounts to users through simple Tweets. Execution occurs through card-linked offers, requiring users to enter credit card numbers in response to merchant Tweets.
To redeem, users then visit the merchant site and use that same credit card number to get the deal. Merchants, in turn, can use this online data as a basis for business analytics to help determine consumer demographics and future marketing tactics, using CardSprings built-in analytics tools. These tools clearly point out the leads that convert to sales and reveal what influences Twitter users to respond to marketing offers.
After acquisition, CardSpring will continue to allow retailers to advertise through them, posting upcoming sales and deals.
CardSpring was founded in 2011 and was in partnership with its initial funders, Accel Partners and Greylock.
Twitter has had its sights on entering the e-commerce market, a plan that came to fruition under Nathan Hubbard, Twitter's current head of commerce.
According to Hubbard, CardSpring and the technology it offers are "a great fit with our philosophy regarding the best ways to bring in-the-moment commerce experiences to our users."
Partnering with Starbucks and American Express were Twitter's initial steps towards building e-commerce equity.
Before CardSpring's functions unfold completely, Twitter users will have access to a "Shop Now" button on Ads, to get things rolling towards Tweets that resound with more meaning.
More about Twitter, Cardspring, Magento, Ecommerce, Social media