Elon Musk wants payments on Twitter: procedures started

The patron of Twitter, Elon Muskhas expressed its willingness to activate i payments on the platform. But to do what?

Elon Musk and payments on Twitter

Previously, Elon Musk had declared himself in favor of the presence of payments on the social network and it seems he has even started the procedure in the United States for the introduction of payments, to make the company’s revenues further increase.

In fact, it was Musk himself who wanted a platform that delivered fintech services such as peer-to-peer transactions, savings accounts and debit cards. In this way the app will be able to cover all the services that a social network can offer, from messages to payments. And not only that: he would also like to activate payments in cryptocurrencies.

According to the Financial Times, therefore, it seems that the head of Tesla wants to slowly transform Twitter into one payment platform able to compete with big realities like PayPal e Apple Pay. Furthermore, in addition to allowing online and in-store payment, Twitter will be able to offer money transfer services between users.

Elon Musk e X.com

Elon Musk is by no means new to this kind of initiative. Just think of the fact that he founded it himself X.com in 1999 together with Greg Kouri, one of the first online banks which later became an integral part of PayPal. And today, after having been under the control of eBay until 2015, it is an independent company well known in the financial sector.

Additionally, X.com funded other Musk projects, such as Tesla and SpaceX, and allowed people to manage and exchange money via the web and email. However, in 2017 Musk bought back the X.com domain from PayPal and put it back online the same year. Finally, the X.com site redirected visitors to the site of The Boring Company, another company of his, in order to promote the new project.