Twitter Working On Payments Feature: Report
Twitter Inc is working to introduce payments on the social media platform and has begun applying for a regulatory license, the Financial Times reported on Monday, citing people familiar with the matter.
New boss Elon Musk is pushing Twitter to create new revenue streams as it faces a slump in ad income, after he took over the $44 billion company in October.
The development of the payments feature is being led by Esther Crawford, Twitter’s director of product management, according to the report, adding that the chief executive is emerging to become a key lieutenant. by Musk.
Twitter did not immediately respond to Reuters’ request for comment.
Musk previously said that acquiring Twitter would be part of a master plan to create an “everything app,” a service that offers social networking, peer-to-peer payments and e-commerce shopping.
Before Musk took over, Twitter in early 2021 explored allowing users to receive tips or digital payments from their followers.
(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)
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