Insights
Industry
People
Culture
Brand Studio
Facebook Hub
Choueiri Group Deep Dives
OMD Corner
LEAD with ABG
Insights
Brand Studio
Facebook Hub
Choueiri Group Deep Dives
OMD Corner
LEAD with ABG
ABOUT US
CONTACT US
ADVERTISE WITH US
Insights Industry
Back
Facebook unveils ‘Buy’ button, Twitter acquires payments startup
By Arjun RKSun, Jul 20 2014

Contact
facebook-unveils-buy-button-twitter-acquires-payments-startup

After the native ad, here comes the buy button.

On Wednesday, both Facebook and Twitter made critical moves in their efforts to transform their platforms into formidable spaces for online commerce.

On the morning of 17th July, Facebook unveiled a new test click-to-purchase product. Members on desktop computers or mobile devices will be able to click a “buy” button to make purchases through advertisements or other posts on the site, the Menlo Park, Calif.-based company said in a blog post. The service is being tested with a few small and medium-sized businesses in the U.S.

By the afternoon of the same day, Twitter had its own commerce news to share.

The company said it planned to acquire CardSpring, a San Francisco-based startup that allows developers to write applications for credit cards, discount coupons and other payment systems. Its platform is aimed at linking e-commerce with brick-and-mortar sales. Online shoppers can collect sales offers, synch them with their credit card and then collect them at stores. For Twitter, the company offers an existing payments infrastructure that is not built solely around impulse purchases.

The news of the intended acquisition, announced in a blog post, marks one of the first public statements from Twitter about its nascent commerce plans.

Marketers and analysts have widely expected that both social-media companies would venture into e-commerce offerings to boost revenue, moves that pit them against the major credit card companies as well as Apple and Google. With CardSpring, Twitter is demonstrating that it is a serious contender with Facebook, said Tim Dunn, director of strategy and mobile at digital agency Isobar. “Twitter is really being much more aggressive in commerce,” he says.

Facebook's new 'Buy' button.

Facebook, which has more than 1.2 billion users, has tried enabling purchases on its social network in the past, with limited success. Facebook Credits, a virtual currency that let users make purchases within games, was abandoned in 2012.

Twitter last year hired Ticketmaster executive Nathan Hubbard to explore ways to let people purchase goods directly from Tweets. Dick Costolo, chief executive office at Twitter says, that the effort would lead to “commerce in the moment.” The San Francisco-based company also recently signed a deal with Amazon, the largest online retailer, to let Twitter members shop by hashtag.

The company also has commerce ties with Starbucks and American Express.

In a blog post, Hubbard described CardSpring as “a great fit with our philosophy regarding the best ways to bring in-the-moment commerce experiences to our users.” CardSpring’s staff of fourteen employees will be joining Twitter.

With additional contributions from Bloomberg News.
RELATED TOPICS
American Express Buy Button Ecommerce Facebook Facebook Buy Button Facebook Store Native Ads Native Advertising
MORE IN Industry
Industry
November 01, 2020 How to Build a Winning Gen Z Strategy on Mobile

App analytics and market data company, App Annie, have released a new report that sheds light on Gen Z’s mobile behavior, in order to help marketers develop effective strategies to reach them. 98% of Gen Z report owning a smartphone, on average receiving their first at the age of 10. They are also part of […]

Industry
October 28, 2020 Micro-Influencers Are Still an Important Channel in the Marketing Funnel

Experticity, the world’s largest community of influential category experts have released a new study that sheds new light on the importance of micro-influencers on the average consumer. The study was conducted with online interviews of more than 6,000 individuals from the United States drawn from Experticity’s micro-influencer network and the general population. In addition, more […]

Industry
October 28, 2020 Global Media Insight Report Provides Concise Picture of Media Trends in UAE & KSA

Market research companies eMarketer and Global Web Index have collaborated together to release the 10th edition of the global media intelligence report. The report is a detailed compilation of data and insights about internet users’ traditional and digital media usage in 42 key markets worldwide. Communicate will be highlighting the key trends that are shaping the […]

Industry
October 27, 2020 Socialbaker’s New Report Highlights Slow Return to Normalcy in Digital Space

Social Bakers, a global AI-powered social media marketing company has released the Q3 edition of their social media trends report. The report reveals where the industry is currently standing with regard to spending and engagement globally. Here are the key findings – ADVERTISING Worldwide ad spend increased by 56.4% in Q3 compared to where it […]

Subscribe to

our newsletter.

This site uses cookies: Find out more.

Logo
  • Insights
  • Industry
  • People
  • Culture
  • Brand Studio
  • Facebook Hub
  • Choueiri Group Deep Dives
  • OMD Corner
  • LEAD with ABG
  • About Us
  • Contact Us
  • Advertise With Us
  • Privacy Policy
  • Disclaimer
NEWSLETTER

Get a monthly round-up of Communicate's best insights

© 2020 communicateonline.me
About Us
Contact Us
Advertise With Us
Privacy Policy
Disclaimer
icon
icon
icon
icon
icon
© 2020 communicateonline.me