Twitter acquires payments infrastructure startup CardSpring

Summary:The company's API helps developers write applications that accept credit card payments and create card-linked promotions such as digital coupons, virtual rewards, and loyalty programs.

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Twitter has acquired the payments infrastructure startup CardSpring.

The company's API helps developers write applications that accept credit card payments and create card-linked promotions such as digital coupons, virtual rewards, and loyalty programs — useful tools for Twitter as it tries to make headway with in-tweet purchases.

Twitter said in a blog post that CardSpring’s technology will "fit with our philosophy regarding the best ways to bring in-the-moment commerce experiences to our users."

CardSpring commented on the acquisition in its own blog:

"We started CardSpring with a vision to develop a new type of platform that enables digital publishers and retailers to work with the payment industry to create a new generation of commerce experiences for hundreds of millions of offline shoppers. We see the intersection of payments and digital media as an opportunity to revolutionize how consumers use credit and debit cards, while helping retailers to connect and communicate with their offline shoppers - much in the same way the Internet has enabled online stores to create relationships with their online customers."

CardSpring was backed by a bevy of investors, including Accel Partners, Greylock Partners, Morado Venture Partners, SV Angel and Data Collective. Once at Twitter, CardSpring said it will continue to work with its publisher, financial, and retail partners.

Topics: Social Enterprise

About

Natalie Gagliordi is a staff writer for CBS Interactive based in Louisville, Kentucky, covering business technology for ZDNet. She previously worked as the editor of Kiosk Marketplace, an online B2B trade publication that focused on interactive self-service technology, while also contributing to additional websites that covered retail tec... Full Bio

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