Elon Musk-led Twitter working on payments feature - Reports | Tech News

Elon Musk-led Twitter working on payments feature - Reports

According to reports, Twitter is working on a new payments feature.

By:REUTERS
| Updated on: Jan 31 2023, 07:05 IST
In Pics: Your Twitter has been changed forever by Elon Musk
Twitter
1/7 Twitter top officials fired: As soon as Musk took over Twitter, he fired the top executives including CEO Parag Agrawal, CFO Ned Segal, legal affairs and policy chief Vijaya Gadde. That was the first decision taken by Musk at Twitter. On Friday, Twitter also laid off 50 percent of its employees and Musk defended the step by saying that this is being done in an effort to place Twitter on a profitable path. (AFP)
Twitter
2/7 Charges for Blue Tick: Twitter users who want a verified account will now have to pay charges for the same as Twitter will now charge $8 for Blue Tick. Musk supported the decision by posting a number of tweets regarding the same. He believes the subscription fee will give Twitter 'a revenue stream to reward content creators' while the company will not have to depend on advertisers. (REUTERS)
Twitter
3/7 Twitter Content Moderation Council: Twitter will set up a content moderation council with widely diverse viewpoints. The council will be accountable for all main content-related decisions. (AFP)
Twitter
4/7 Advertisers: General Motors, General Mills, Audi of America, Oreo maker Mondelez International, Pfizer Inc and Ford are some of the corporate companies who have distanced themselves from Twitter. Several advertisers have suspended ad spending on Twitter altogether. (REUTERS)
Twitter
5/7 Changes to Twitter's homepage: Musk requested that users who have logged out of Twitter and visit the homepage of Twitter's site to be redirected to the Explore page which shows trending tweets and news stories, according to a report by Verge. (REUTERS)
Twitter
6/7 Vine: Musk put up a poll on Twitter asking people if he should bring back Vine. (AP)
Twitter
7/7 Removal of Days of Rest: Days of Rest has been removed from the calendars of the Twitter employees. It can be known that the Days of Rest refers to the monthly days off to let employees rest and recharge. (AP)
Twitter
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Reports suggest that Twitter is working on a new payments feature. (REUTERS)

Twitter Inc is working to introduce payments on the social media platform and has begun applying for regulatory licenses, the Financial Times reported on Monday, citing people familiar with the matter.

New boss Elon Musk is pushing Twitter to create new streams of revenue as it faces a drop in advertising income, following his $44-billion takeover of the company in October.

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The development on the payments feature is being led Esther Crawford, a director of product management at Twitter, according to the report, which added that the executive was emerging to be a key lieutenant to Musk.

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Twitter did not immediately respond to a Reuters request for comment.

Musk had previously said that the Twitter acquisition would be part of a master plan to create "the everything app", a service that would offer social networking, peer-to-peer payments and e-commerce shopping.

Prior to Musk's takeover, Twitter in early 2021 was exploring allowing its users to receive tips, or digital payments, from their followers.

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First Published Date: 31 Jan, 07:04 IST
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