A new app lets users pay via bitcoin over Twitter (NYSE: TWTR). iPayYou launched on July 14, 2016, enables users to send payment to a Witter account.
iPayYou is a digital wallet; similar to PayPal, that enables users to send payments without exchanging personal information. Users have a choice of sending bitcoin or US dollars for payment.
The App is very similar to StartChat which enables users to send bitcoin payments via Telegram. iPayYou lets you send money either by either email or Twitter and to buy and sell Bitcoin. Currently iPayYou works through no other messenger apps.
Despite its popularity with Donald Trump, Twitter is actually a fairly modest player in the messenger app world. The most popular is Facebook’s (NASDAQ: FB) WhatsApp which has a billion users around the world. Twitter only has around 310 million active users mostly in the United States.
iPayYou has the potential to become a game changer with its Pay by Twitter feature, particularly if that were to be expanded to more messenger solutions like WhatsApp. iPayYou is apparently a serious company with big money, it has a professional leader in the form of Gene Kavner, a former Amazon (NASDAQ: AMZN) executive.
Bitcoin for the Masses
Kavner kicked off Pay by Twitter by sending money to the three US presidential candidates; Republican Trump, Democrat Hillary Clinton and Libertarian Gary Johnson. iPayYou hopes to attract customers with low transaction fee.
It also lets users cancel transactions if they think there are mistakes in the payment process. If you want to learn more about iPayYou just visit its website.
Payment apps are becoming big business the volume of payments sent through Venmo doubled between January 2015 and January 2016, rising to $1 billion for the first time, Fortune reported. The volume of Venmo payments in January 2016 was 10 times that in January 2014 meaning it added $900 million in business in just two years.
The success of Venmo; and its owner PayPal (NASDAQ: PYPL), will undoubtedly drive more customers to payment apps. Many of them will undoubtedly turn to bitcoin.
Solutions like iPayYou, StartChat and the British Plutus have the potential to take bitcoin to the masses by making it easier to use. Plutus enables people to pay with bitcoin via an NFC-enabled wireless app similar to Apple Pay and Android Pay. Plutus would be even more of a game changer because it enables payment at brick and mortar stores with bitcoin.
iPayYou could be an important tool for introducing average Americans to bitcoin by enabling instant payment over the popular app. It might even convince Donald Trump to start using bitcoin.