Bitcoin wallet iPayYou has launched a Twitter payment function, which allows users to directly transfer Bitcoin to the other party's Twitter account, thus meeting the payment needs of users who do not have a Bitcoin account.
iPayYou is the first full-service wallet that uses the social media site Twitter to enable peer-to-peer payments. Users can make payments through Twitter without having to create a Bitcoin account.
Bitcoin payment becomes easier "It has always been our goal to make iPayYou the most convenient and easy-to-use Bitcoin wallet in the world," iPayYou founder Kavner told CCN. "Currently, it is still difficult for users who don't know much about Bitcoin to master Bitcoin payment methods."
"Users can send payments to recipients via Twitter, but at the same time, they can also use traditional Bitcoin payment methods to pay." Kavner said. "Now, iPayYou brings great convenience to the use of Bitcoin, and users can pay simply through Twitter."
How it works: Once a user sends a payment, they receive a Twitter alert telling them that the money has been deposited into the other party's iPayYou wallet. Twitter links them to the iPayYou website, where people can send and receive payments. The recipient can deposit bitcoins into their iPayYou wallet or pay another user, who can also convert bitcoins into dollars and deposit them into their bank account.
iPayYou's Twitter payment function also includes a transaction cancellation function, which allows users to choose to cancel the payment before the money reaches the other party's account.
"The recipient of Twitter payments needs to register an iPayYou account in order to withdraw bitcoin," Kavner said. The registration process is easy and users only need to verify their Twitter information and leave contact information, which can increase security.
“We do not require any banking information when users withdraw bitcoin. However, if US users want to buy or sell bitcoin on iPayYou, they will need to provide this information.”
The transaction fee for US users to sell Bitcoin is about 0.5% of the selling price plus network fees/service fees. The transaction fee for buying Bitcoin remains at 0.5% of the total price.
Twitter supports Bitcoin
iPayYou aims to allow users to easily pay Bitcoin in their daily lives. Twitter is also one of the most popular social media sites.
"Twitter has hundreds of millions of users around the world, and now users can receive and pay through iPayYou's Bitcoin payment service without having to understand cryptocurrencies or traditional payment methods such as Bitcoin," said Kavner.
In addition, the recipient can receive the payment without providing the payer with private information including address and bank account number. "This highly confidential payment method is another major innovation of iPayYou, which will usher in global transactions in the 21st century," said Kavner.
“We are using Twitter’s public API to authenticate users,” Kavner said. “This ensures that only legitimate users can receive money.”
Support presidential candidates
After iPayYou launched the Twitter payment function, it created accounts for three US presidential candidates on its official website. Users can support their favorite candidates through the Twitter payment function.
Kavner said iPayYou uses the example of selecting a presidential candidate to explain to users what information is needed to use Twitter's payment function.
"What we're launching is a whole new way to make payments securely on Twitter, just by knowing the other person's Twitter account," Kavner said. "This will allow users to pay not only presidential candidates, but also charities, special groups, organizations, and of course, colleagues, friends and family."
Kavner said iPayYou is in the process of establishing payment partnerships with other social media sites such as Facebook and LinkedIn.
Roger Ver, a Bitcoin supporter and one of iPayYou's investors, said iPayYou is one of the most exciting new Bitcoin companies and a good example of how to promote Bitcoin among the general public.
In the coming months, iPayYou will launch two versions of the wallet, iOS and Android.
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