Do you think it is possible? Believe me it is.
The world today is connected today with Social Networks and so everything is linked. But how do you transform these links and sharing into real financial transactions.
“Technology is limited by your own Imagination.”
And so are the ways to use technology in constructive ways. People try to find out ways to do things easily that otherwise used to take a long time by using the latest technology innovations.
Similarly, you can pay anyone in the world in 140 or less characters using Twitter. I am going to introduce you to three new services today which are based on Twitter. These services let you pay/receive money from anyone and everyone in the world by just sending a tweet on twitter.
The services I am talking about are Twitpay, Tipjoy and Twippr.
Here is how it works.
- First of all you need to have a Twitter account and a Paypal account.
- Then you need to know the twitter id of the person you are planning to send money.
- Once you have this information, then the only thing you need to do is send a tweet in a particular format. Generally like:
Send $10.00 to @knowliz for this article. - Your payment is process using your Paypal account and a tweet is sent to the recipient. Recipient will pay Paypal transaction fees to receive the payment.
Twitpay vs Tipjoy vs Twippr:
| Twitpay | Tipjoy | Twippr | |
| You need | Twitter & Paypal | Twitter & Paypal | Twitter & Paypal |
| Fees | 2.9% of Transaction + $0.30 + any other fees is charged from the recipient | Generally 3% but has a complex method to work it out. | Flat 4% fees is charged from the recipients |
| Tweet Format | @twitterid twitpay $amount for reason | p $amount to @twitterid for reason | Pay $amount to @twitterid for reason |
| Can be used for | Tip, Donation etc. | Tip, Donation, service etc. | Tip, Donation, Service, IOU etc. |
| Remarks | Recipient need to have a Twitter id | Recipient can receive money by either twitter or email both. | Recipients can receive money by twitter, email and even phone. |
| Privacy | Tweet are public. | Tweets are public. | Tweets are direct messages, so are Private. |
| Example | @knowliz twitpay $1.00 for telling me about Twitpay. | p $1.00 to @knowliz for telling me about Tipjoy. | Pay $1.00 to @knowliz for telling me about Twippr. |
So now you know you can send or receive money to/from anyone in 140 or less characters using Twitter.
The best use of these services is for Donations, fundraisers and collecting money for some cause and other similar activities. Because that way you are not worried about privacy. And depending on how many followers you have on twitter, you may collect a lot of money quickly.
Since these services are used for micro-payments (as they call it), sometimes people don’t hesitate paying $1.00 to $5.00 for any cause.
Micro-payments are very small payments, which are generally inconvenient to pay using traditional methods, like credit or debit cards.
I would in fact love you hear your response about these services. Why do you think you would use these services. If yes, then for what purpose? If not, then why not?
And hey, if you feel like trying, then you can start by tipping me for coffee by sending a tweet “p $1.00 to @knowliz for Friday article on #Knowliz.”.
(Image credit: Wade Tannehill)
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Pay anyone in 140 or less characters using Twitter – A Quick How-to http://ff.im/-5FcXM
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