Twitter's share price jumps on Mastercard interest

Caitlin Morrison
Follow Caitlin
Social Networking And Blogging Website Twitter
Could Twitter be set for a partnership with Mastercard? (Source: Getty)

Shares in social media firm Twitter jumped by over nine per cent today on news that payments firm Mastercard would be interested in a tie-up with the company.

"We see companies like Facebook and Twitter occupying a really good space in social media and we are always over in Silicon Valley talking to those companies," said Ann Cairns, president of international markets at Mastercard, in an interview with CNBC.

Cairns added that the companies would need to "figure out what we can do together, where our network could play into their space and connect up".

"Obvious spaces are if they want to offer payments to their clients and if you think about somebody like Facebook, it would probably be something like a P2P (peer-to-peer) service," she continued.

Twitter, which recently celebrated its 10th birthday, has had a bumpy time on the stock market in recent months. In February, the social network's shares fell to an all-time low of $13.91, well below its float price of $26 per share.

Concerns over flat user numbers prompted some to speculate that "peak Twitter" has been reached.

Related articles