Amex Turns Hashtags Into Currency

Now you can buy things like a Kindle, Xbox, or digital camera just by tweeting a specific hashtag. The latest extension to American Express Twitter Sync feature enables  customers who have synced their Amex account information with Twitter to pay by tweeting purchase hashtags.

The process is fairly simple – purchases are made by tweeting a purchase hashtag and then retweeting a confirmation tweet from Amex within 15 minutes. From there, your purchase is shipped to your billing address, and the payment is taken from your account. (more on TechCrunch)

Why I’m Curious

Twitter Sync users have been able to get discounts deals from Amex for tweeting specific offer hashtags since last March. But this new update is incorporating purchase straight into the process and eliminating the extra step of redeeming the offer code elsewhere. Plus every purchase made through the program instantly becomes an ad for program and products purchased.

We’ve seen other brands (like Kellogg’s) try out social currency, but Amex is making a more sustained effort to keep purchases going. Leslie Berland, Senior Vice President, Digital Partnerships and Development at American Express said “Based on the initial success of Amex Sync for offers, we know there is significant power in combining our assets with Twitter’s platform to bring value to Cardmembers and merchants.” I’ll be curious to Amex can expand their product past the initial product offerings and see how other brands can leverage a similar program structure.

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