Tipjoy is a web app that allows users to give people money (like tips) via Twitter.

Features:

• one-click process to give a tip/make a donation using button or Twitter widget
• designed for use with virtual goods
• smaller fees/overhead than PayPal

The Good:

Tipjoy is a novel way to give tips/make donations via Twitter. Simply tweet “p @username $amount” and you have created a DM payment from your Tipjoy account to @username. @username can claim his/her dollars by logging in to Tipjoy (and creating an account). It is easy to do, and best of all, the overhead fees are lower than those we are used to on PayPal.

The Not-so-Good:

We like the idea of Tipjoy, and couldn’t find any serious flaws. It takes a little bit of effort to get set up, but once you are, things work pretty much automatically. It may take a while to catch on, but when it does it will be a serious contender.

Tweetwave.com rates it: ★★★★