Twitter has been testing a buy button on the site that allows users to make purchases without leaving the platform, and according to Re/code, Shopify is among the e-commerce companies that Twitter will integrate with.
As of last year, Shopify reported that around 100,000 businesses in the U.S. are using their platform. The Twitter deal will give the ability for businesses to expand their reach and sell their merchandise within tweets using Shopify’s software.
Though Twitter has 316 million monthly active users and 500 million tweets per day, the company has been struggling in recent months with falling stocks and this weekend, its stock fell to its lowest point since its IPO. Interim CEO Jack Dorsey reported to investors that Twitter hasn’t done enough to make the platform easier to use, and user growth is stalling.
As social network giants are looking to new revenue streams, Shopify is well-positioned to lead the experiment into online payments. Twitter, Facebook and Pinterest have all been adding Buy buttons to their platforms over the last year and are turning to companies like Shopify to help innovate and find new streams of revenue. Facebook, for its part, has been working on beta testing with Shopify businesses to test the effectiveness of the Buy button. For Twitter, the move to integrate with Shopify could be the key to revitalizing their service.