Slideshow Twitter's Rocky Relationship with Money Movement

Published
  • December 13 2012, 3:13pm EST
11 Images Total

(Image: ThinkStock)

#Dwolla

Dwolla's taking to Twitter with a new system that lets users send money by typing a dollar amount, a username and the #dwolla hashtag. Here, Dwolla founder Ben Milne demonstrates the system while taunting PayPal co-founder Elon Musk.

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Poker Face

Milne also tried to get the attention of Justin Bieber and Lady Gaga with $1,000 gifts. Each superstar has over 30 million followers.

Taking It to Takei

Twitter payment service Chirpify similarly tries to get the attention of the rich and famous, including "Star Trek" and "Heroes" star George Takei.

Follow the Rules

It also responds to everyday users when they encounter snags with its system, which allows users to make payments and donations by responding to Twitter messages.

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Belly Up?

There are no guarantees of success in Twitter payments. One earlier entrant had to abandon its business model, and another never made it out of beta… (Image: ThinkStock)

Twitpay

This tweet-to-pay service suffered from a "busted business model," the Atlanta Business Chronicle reported in 2010, when Twitpay's founders sold its assets to investors for $100,000. The Twitpay Twitter account hasn't posted a message since February 2012.

Twippr

Twippr is an acronym for "TWItter Payment PRocedure." The word for sending money through its service is "Twip." It uses PayPal to fund such payments. It was created in 2008 and remains in beta, according to its website. The Twippr Twitter account hasn't posted a message since 2010.

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Hands Off

Some companies, particularly banks, have taken a "look but don't touch" approach to Twitter and money movement. Instead of allowing customers to move money directly, they use Twitter more for instructional purposes, promoting payment systems in other channels. (Image: ThinkStock)

Eyes of Isis

The mobile-pay venture Isis doesn't enable payments over Twitter, but its @PayWithIsis account is responsive to the needs of users in its test markets — as well as farther-flung payments enthusiasts eager to try the system.

Tongue Tied?

Banks typically are limited in their ability to respond over Twitter, due to regulatory concerns. However, they can use Twitter to communicate simple instructions for using their services.