Twitter forays into digital payments business with the launch of Tip Jar

Just a few days ago, we wrote about Twitter after the social giant announced the launch of Twitter Spaces, a feature that allows users to join virtual rooms where they can engage in real-time, audio conversations with others.

The launch is part of Twitter to grow its revenue base, tap into the potential of its over 300 million customers, and diversify its business. As we reported early this year, Twitter acquired newsletter startup Revue to attract users who want to make money from their followers. The social giant didn’t stop there. Now, it wants to get into the digital payments business.

On Thursday, Twitter unveiled Tip Jar, a new feature that makes it easy for users to send money to their favorite creators via its micro-blogging platform. Those who use Twitter in English on iOS and Android will be able to start sending money through Tip Jar on Thursday.

Other users will be able to add Tip Jar to their profiles to begin collecting tips. This includes creators, journalists, experts, and nonprofits, Twitter said. In a blog post, Esther Crawford, Twitter Senior Product Manager, wrote: ”

“Starting today, everyone using Twitter in English can send tips to applicable accounts on Twitter for iOS and Android. For now, a limited group of people around the world who use Twitter in English can add Tip Jar to their profile and accept tips. This group includes creators, journalists, experts, and nonprofits. Soon, more people will be able to add Tip Jar to their profile and we’ll expand to more languages.”

Twitter also said that users will be able to connect their Twitter accounts with Tip Jar to Bandcamp, Cash App, Patreon, PayPal, or Venmo. Twitter also noted that it will not any cut of money sent through the Tip Jar. It’s unclear at this point how Twitter plans to monetize the new feature.