San Francisco, California–Twitter is entering a new venture into e-commerce. The social media site is partnering with American Express and card holders will have the ability to pay by using a hashtag. The two-step process essentially converts the social media network into a shopping cart.
Consumers with American Express accounts will only need to mention a specific hashtag in a tweet and will receive a pending-purchase confirmation hashtag from @AmexSync. Card holders will then have 15 minutes to confirm they want to proceed with the purchase or decline it, if they so choose. Account holders will receive their purchase at the billing address on file with AMEX.
The campaign kicked off this week, with American Express offering a $25 gift card at a discounted rate of $15. In order to take advantage of this new service, card holders will be required to sync their account with Twitter. There are some restrictions–consumers cannot use gift or corporate AMEX cards and their Twitter account must be public.
Finding products is easy; card holders simply click or visit to American Express Favorites section on Twitter and offers will be made available. The first deals are on a Sony Action cam, an Xbox 360, a Donna Karan-designed bracelet, and an Amazon Kindle Fire. Other products will soon be added, depending on the pilot program’s success rate.
Twitter is the fastest growing microblogging site and has nearly 500 million registered users. The social platform is worth an estimated $9 billion and has outpaced both Facebook and Google+ in new sign-ups, according to a recent study by Global Web Index (GWI).