Twitter Inc (NYSE:TWTR) has finally announced that it is rolling out the ‘Buy Now’ Button, company’s first commerce product. Buy Button will let users buy within tweets. After pressing the ‘Buy Now’ button, users will enter the necessary information about payment and shipping and the buying process will be complete within a few taps. CNBC’s Julia Boorstin reported about this new feature of Twitter and said that the company is having a number of test partners at this step, including Burberry, HomeDepot, Eminem, and Rihanna. She also showed the excerpts from an interview of Nathan Hubbard, Twitter Inc (NYSE:TWTR)’s head of commerce. Hubbard said that initially, the ‘Buy Now’ button is for buying physical products, but Twitter Inc (NYSE:TWTR) can expand it to further products and services like on-demand and digital services.
“There are products and price points of all kinds of, offers of all kinds that work across the platform, it’s not just the flash sale platform […],” said Hubbard.
The payment and shipping information that the users will add after pressing the ‘Buy Now’ button will be encrypted and saved for future purchases, according to the official statement by Twitter. Currently, the button will be rolled out to a limited number of users in the US, but by the start of the holiday shopping seasons, Twitter Inc (NYSE:TWTR) will make it visible to everyone. Twitter’s latest step will make e-commerce much faster. Twitter Inc (NYSE:TWTR) has also said that during all the buying processe, the credit card information of users will not be shared with the seller without their permission.
John Thaler‘s JAT Capital Management is a shareholder of Twitter Inc (NYSE:TWTR), having around 7.4 million shares of the company.