As Elon Musk continues to look for new revenue streams to reconstitute Twitter, he is actively seeking regulatory licenses throughout the US to implement payments processing on the social media network. Since paying $44 billion for the network in October, Twitter’s $5 billion a year in advertising revenue has plummeted, with marketers blaming management and its new content moderation policies. As part of Musk’s broader strategy to make Twitter an “everything app”, combining messaging, payments, and commerce, Musk wants Twitter to offer fintech services like peer-to-peer transactions, savings accounts, and debit cards.
Elon Musk Pushes Forward with Twitter Payments Vision
