American Express and Twitter struck a deal yesterday to allow consumers to buy select products, including Kindle Fire tablets, without leaving the Twitter stream.
The move was a win for Twitter, in terms of revenue from the promoted deals and keeping users on its site.
But what about Chripify? The Wall Street Journal reported that the AmEx deal represented the first time Twitter users could buy products on Twitter. But Portland, Ore.-based Chirpify launched a year ago doing exactly that.
SocialTimes reached out to Chirpify CEO Chris Teso to see what the company thought of the partnership.
“AmEx is out there spending a lot of money validating what we’ve been doing for a year. It only helps us,” a seemingly elated Teso said.
Teso didn’t see American Express’s offering as competition for Chirpify, which allows users to pay using any of the three major credit cards or PayPal and works on both Twitter and Instagram. The company expects to be on all the major social networks soon.
Nor did he seem concerned that Twitter was replicating Chirpify’s product internally, something the company is notorious for doing.
“Our goal is to build a big company. Twitter is just one platform. The real value is for a brand to be able to list once with us and push it across the whole social ecosystem,” he said. (His company’s name and logo somewhat belie that statement.)
To use Chripify, consumers must link their account to a method of payment and respond to a tweet or Instagram post with a particular word to trigger the transaction: buy to purchase, pay to make a person-to-person payment, and donate to contribute to a nonprofit fundraising campaign.
Of thousands of purchases, just three have been made in error, according to Teso.
Chirpify takes a 2.9 – 5 percent transaction fee on each purchase. It also charges enterprises a monthly fee depending on their volume of sales. It has “tens of thousands” of members, Teso said.