Twitter is introducing a new feature that will allow users to send and receive money through their twitter profile.
Twitter in a published blog post Introduced this new feature as Tip Jar and that the feature will only be rolled out to a selected group of users who use Twitter in English.
A Tip Jar-enabled account will have a “cash icon” next to the follow button on the Twitter profile page. Such users that are enabled for the service can go on to pick one of the payments services offered.Advertisement
Payment Services On Twitter Tip Jar
Currently, the new feature supports only the likes of Bandcamp, Cash App, Patreon, PayPal, and Venmo as a payment option. However, Android users can also send payments through the recently expanded Spaces announced on Twitter’s blog.
According to the blog publication, “Tip Jar is an easy way to support the incredible voices that make up the conversation on Twitter.
This is a first step in our work to create new ways for people to receive and show support on Twitter – with money” -they concluded.Advertisement
Meanwhile, in the past months the company has been experiencing quite some fall in it’s Quarterly income and has thus been devising ways to bridge the gap. Following the report shows a $260 million drop from its revenue in Q4 2020. In the platform’s Q4 2020 report, it reported revenue of $1.3 billion. In Q1 2021, the report read a total revenue of $1.04 billion.
While the Tip Jar feature is to show support on Twitter, it might eventually be a source of revenue for the social company.
Early this year, we predicted that Twitter would explore a tipping feature among other non-ad related prospects to increase revenue. Currently platform has introduced other features such as Super Follows and might introduce Undo Tweets soon.
Twitter isn’t taking any cut from Tip Jar at the moment, though the company is likely to do so when the feature is rolled out to more users.Advertisement
While some users like Austin Rief, Morning Brew CEO, was also delighted of the feature, some privacy issues have been raised.
Rachel Tobac, a user who tested the feature, tweeted that the PayPal receipt contained the sender’s address. Though in the lights of that, Twitter support has taken action on the issue in a tweet that read,
“We’re updating our tipping prompt and Help Center to make it clearer that other apps may share info between people sending/receiving tips, per their terms.”-Twitter
Limited to only journalists, creators, experts, and non-profits, Twitter promises that more people will be able to add Tip Jar to their profiles.
It’s not clear the method Twitter will use to identify users with access to the feature. Perhaps the feature will only be available to verified or paid subscribers.
The essential benefit of this is that I give you a chance to pay a favourite twitter creator for good tweeting. More updates on this topic will be rolling out soon do subscribe to our blog to get the latest notification as we publish them.Advertisement