Elon Musk Wants To Turn Twitter Into A Payments Platform
Elon Musk wants to turn Twitter into the next Cash App or Venmo.
Earlier today, Musk attended a Q&A hosted through a Twitter Space. While the new CEO answered a lot of questions concerning content moderation and profile verification, he also touched on the future of payments on the platform.
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When asked about how payments could work in the future for Twitter, Musk revealed a potential future in which the platform would feature a number of payment systems like peer-to-peer transfer and even a high-yield money market account.
Now we can say, okay, you’ve got a balance on your account. Do you want to send money to someone else within Twitter? And maybe we pre-populate their account…and say, okay, we’re gonna give you 10 bucks. And you can send it anywhere within Twitter. The next step would be this offer for an extremely compelling money market account where you get an extremely high yield on your balance. And then add debit cards, checks and whatnot and…just basically make the system as useful as possible. And the more useful and entertaining it is, the more people will use it.
Musk went on to say that such a system would make it easy for customers to interact and purchase products and services more seamlessly from creators and merchants. You can listen to the recording of the Twitter Space below: