TWITTER INTRODUCES TIP JAR; A FEATURE THAT ALLOWS USERS TO SEND AND RECEIVE MONEY
The feature allows users to send and receive money to their favourite creators through the social media platform. According to an announcement on Twitter’s blog post, the feature is currently available to a limited group of people who use Twitter in English.
“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.”
“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,” it added.
How to send a tip
An account’s Tip Jar is enabled if there is a Tip Jar icon next to the follow button on their profile page. Tap the icon, and you’ll see a list of payment services or platforms that the account has enabled. Select whichever payment service or platform you prefer, and you will be taken off Twitter to the selected app, where you can show your support in the amount you choose.
Currently, the new feature supports Bandcamp, Cash App, Patreon, PayPal, and Venmo. Android users can also send payments through the recently expanded Spaces. For now, Twitter takes no cut. Even though the Tip Jar feature is currently to support creators on Twitter, it might soon become a source of revenue for Twitter.
This is because Twitter has been strategizing in revenue generation following a $260 million drop in its revenue in Q4 2020. In the platform’s Q4 2020 report, it reported revenue of $1.3 Billion. In Q1 2021, it recorded total revenue of $1.04 Billion.