Twitpay, which launched yesterday, is a way to send money with Twitter.
It turns twitter into a command line to make payment promises. For instance, to send this fine blog some money I did this:
@nextweblog twitpay $10 for being a kick ass blog
Twitpay will then index my tweet in a Twitpay account. They track all the money that has been sent to and from this account with the ability to cash out or donate the money to a TwitPay charity. You can cancel a payment up to 30 minutes after you tweet it out, by sending a direct message to their account. Twitpay charges $.05 for sending amounts over $1 and users will occur the usual PayPal fees. Their FAQ helps quite a bit.
What is unique about Twitpay is that it doesn’t require the user to signup, if you have a twitter account, you are ready to go.
It was created at Startup Weekend Atlanta.
We at Tipit.to ( http://tipit.to ) provide a free service (just the Paypal charge, and we’re switching to a new payment provider) to enable tipping and we already implement deep Twitter integration for both sending and receiving money using Twitter.
We have been busy for over a year providing a tipping site to the internet and we are currently being used by several large sites (and many many more small ones) for their voluntary contributions.
From what I understand you can can cash out after you have $10.
This is in the FAQ, which leads me to believe their is some way to get your money out.
“Since Sally has the $10 minimum required to cash out, she could spend her Twitpay balance.
Twitpay charges 3% + $0.30 in a cash out fee to recover charges from PayPal™ when you fund your account.
If Sally decides to spend her balance she will have $11.34 to use toward an Amazon™ gift card or a Twitpay charity. Sally could instead use her entire $12 to give to others via Twitpay.”
So then bettetr just join us at Tipit.to. We are happy to have you cash out starting at €20 or equivalent.
are you sure about twitpay allowing you to “cash out”…I don’t think you can get money out of it
unless it changed since yesterday, twitpay only allows u to send money to charity, or another twitpay user, there was no cashing out
it tells you right there, “Amazon gift card, twitpay charity, or send to other twitpay user”…no cash out
Here’s our FAQ entry about it: https://tipit.to/faq#twitter