Twitter Developing Payments Feature as Elon Musk Takes Charge

Twitter is reportedly working on a payments feature and has applied for regulatory licenses, with new boss Elon Musk looking to create new streams of revenue for the company. According to the Financial Times, the development of the payments feature is being led by the director of product management at Twitter, Esther Crawford. 

Musk’s $44 billion (roughly Rs. 3.6 lakh crore) takeover of the company in October was an effort to help the social media platform survive the recent drop in advertising income. In order to do so, he is pushing the company to develop a payments feature. Crawford is emerging to be one of Musk’s key lieutenants in this endeavor. 

While the exact details of the payments feature have yet to be released, it will likely be a separate tab on the platform where users can access the feature. This is similar to how payments were integrated into the Facebook Messenger app. It is unclear if Twitter will be using its own payment system or linking with a third-party service like Google Pay or Apple Pay. 

It is likely that Twitter will be introducing the payments feature in stages, starting with limited countries. This will allow the company to test the feature and make sure it is compliant with local laws and regulations. Additionally, it will also help the company identify any potential issues and make necessary improvements. 

The development of the payments feature is an important step for Twitter as it looks to create new sources of revenue. It remains to be seen how successful the feature will be, but it is clear that Musk is determined to make the company profitable.