Twitter is looking to accelerate growth in social commerce together with innovative payments provider Stripe, as it seeks revenue generation opportunities.
Online payment provider Stripe Inc has launched a new product, Relay, with Twitter as the major early adopter of the new tool. Relay enables retailers and brands to sell more via Twitter using the Twitter buy buttons, where customers are able to complete an online retail transaction natively within the Twitter platform.
Smart move or desperate push for revenue? Since its big IPO in 2013, Twitter has looked for ways to add value for shareholders and increase growth, without either firing thus far. User growth has slowed considerably, and advertisers thus far have been largely underwhelmed by Twitter’s offerings. Social commerce may be the answer.
A year ago Twitter announced the introduction of Buy Buttons, and now the partnership with Relay is set to further streamline the process for retailers. Relay functions as a universal sell button for retailers, allowing companies to list products in a single place and sell them directly on Twitter as well as other e-commerce platforms.
The improved functionality aims to reduce friction and increase the number of social commerce conversions, particularly on mobile devices where the checkout process can be excruciating.