Twitter partners with payment processing company Stripe to boost purchases on its platform as growth falters

Payments processing company Stripe launched a new tool on Monday that will connect retailers and brands to sell on platforms like Twitter and tap an increasing number of consumers shopping on mobile apps.

Twitter’s adoption of Stripe’s new product, Relay, is expected to help the microblogging site further dabble in e-commerce and generate revenue through its "buy buttons," which lets shoppers buy a product and enter payment and shipping information without leaving Twitter’s platform.

Twitter has been struggling to increase its audience and in July said its number of monthly average users grew at its slowest pace since it went public in 2013.

"Almost two-thirds of our users say they bought something specifically because of what they saw on Twitter. ... As mobile and social [media] continue to grow, consumers are going to discover and transact right in the apps where they spend their time every day," Nathan Hubbard, Twitter’s head of commerce, said at a launch event in San Francisco, where both companies are based.