Acquiring

Twitter Acquires CardSpring

Twitter has acquired mobile payment system CardSpring.  The CardSpring API allows developers to make online applications for credit and other financial transactions.  In 2012 the company secured $10 million in funding in a round led by Accel Partners and Greylock Partners.

"At Twitter, we will continue to grow the adoption of our platform and work with our publisher, financial, and retail partners to create new, innovative commerce experiences for consumers,” the company said in a blog post.

Though there are some one-off Tweet-to-pay applications out there—Starbucks and Twitter have a partnership that allows user to send each other coffee in the form of gift cards over Twitter—this could allow Twitter to bring fully integrated eCommerce to its messaging service.

Like the Facebook Buy button, announced yesterday, the Twitter push into eCommerce taps in users, particularly mobile users who cannot easily navigate between screen, one or two click shopping options.

This is the latest in a series of mobile focused acquisitions by Twitter. Last week, Twitter picked-up TapCommerce for $100 million.

The details on the CardSpring acquisition deal have not been disclosed.

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Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. The July 2019 Pay Advances: The Gig Economy’s New Normal, a PYMNTS and Mastercard collaboration, examines pay advances – full or partial payments received before an ad hoc job is completed – including how gig workers currently use them and their potential for future adoption.

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