Twitter just announced it’s acquired CardSpring to enable “in-the-moment commerce experiences.” CardSpring is an application platform that lets developers to write applications for credit cards and other types of payments, enabling card-linked offers electronic coupons, loyalty cards, virtual currencies. Twitter will keep the service open and plans to use it for
CardSpring writes “At Twitter, we will continue to grow the adoption of our platform and work with our publisher, financial, and retail partners to create new, innovative commerce experiences for consumers.”
Twitter explained that “we’ve already given users the ability to get deals and discounts, surprise someone with a coffee, or even add items to their online shopping cart — all directly from a Tweet. As we work on the future of commerce on Twitter, we’re confident the CardSpring team and the technology they’ve built are a great fit ” For more details on CardSpring, check out our past coverage.
Twitter could use CardSpring to enable card-linked offers. For example, you could get a discount offered in tweet from a merchant that would become connected to your credit card number. When you made a purchase at that merchant later, CardSpring would recognize your card number and apply the discount. It would then report back to the merchant with analytics on the performance of the offer. These online-to-offline promotions could make Twitter more relevant to local businesses who want to drive brick-and-mortar sales, not just social media activity.
CardSpring was founded a few years ago by a group of former Netscape engineers and executives. It had raised over $10M from Greylock Partners, Accel Partners, Morado Venture Partners, SV Angel, Data Collective, John Hering, Felicis Ventures, and Webb Investment Network.
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