Elon Musk prepares to turn Twitter into the new PayPal
The company’s goal is to start allowing money to be sent through the app in 2024 to the United States
Twitter 2.0 is coming. The program is almost ready to start enabling users to send money using it.
As reported by ‘The Financial Times’, Esther Crawford, product manager of the ‘app’, is in charge of the project, which is already in full development.
The social network would have probably started applying for the required licenses to be able to function in this fashion in the US.
In principle, the company hopes that the functionality will begin to be available in the North American country in 2024 and that, from there, it will begin to reach other territories.
Elon Musk’s intention to turn Twitter into a different tool from the current one, into a ‘super app’ capable of doing everything, has been known for a long time.
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A similar thing occurs with the tycoon’s special interest in incorporating a future money-sending feature into the website.
The CEO noted that he wanted the “app” to be more like WeChat, a popular program in China that, among other things, allows users to make payments and send money, in a conversation with the social network’s employees conducted a few weeks after the acquisition agreement was made public.
In the future, cryptocurrency transfers may potentially be done over Twitter.
The introduction of this new feature may boost Twitter’s user base, allowing it to continue to function as a social network and enable the posting of tweets and boost the company’s financial status.
Musk took over the website and has since fired half of the staff members and lost many of the former major advertisers. Due to this, the firm is today in a lot more economically precarious condition than it was a few months ago.
To help reverse the situation, the businessman relies on the Twitter Blue ‘app’ subscription service, which is currently only available in a few countries, including Spain.
The transformation of the ‘app’ to become a more complete tool, very different from the current one, will be the next step, and it will gradually arrive thanks to the inclusion of new functionalities.
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