Twitter has teamed up with payment processing startup Square to allow political campaigns to raise money with a tweet: The new partnership makes it possible for politicians to fundraise on Twitter, and for Twitter users to donate to these campaigns from within their Twitter app.
“This is the fastest, easiest way to make an online donation, and the most effective way for campaigns to execute tailored digital fundraising,” a Twitter blog post declared.
The partnership is based on an integration of Square’s Cash service into Twitter. Cash allows individuals and companies to receive money online with what the company calls Cashtags, which are essentially unique user names to accept online payments.
Square’s partnership with Twitter is for now limited to political campaigns, but there’s no reason that the two companies couldn’t expand it to non-profits, or even traditional e-commerce. Twitter first introduced a buy button for e-commerce a year ago, and has more recently been experimenting with product pages and collections of tweets around products to let retailers highlight their wares on the service.
But Twitter teaming up with Square is interesting for another reason: Twitter’s interim CEO Jack Dorsey is also CEO of Square, and he’d like to be permanent CEO of both companies.
Twitter’s board previously declared that it would like a full-time CEO, seemingly ruling out such a double role. But if Dorsey can show that he can successfully ship products while helming both companies, he might just increase his chances to officially become Twitter’s new permanent CEO.