There was a remarkable development on the front of billionaire businessman Elon Musk, who went through a painful process after purchasing Twitter for 44 billion dollars. According to the news in the Financial Times, Elon Musk has started working to turn Twitter into a payment tool.
According to information obtained from sources familiar with the subject, action has already been taken for Elon Musk’s new plan. In this context; It is reported that applications have been made to authorized institutions and that some US states are in the process of obtaining a license. However, it is not clear at the moment whether the license permission will be granted.
So, what kind of payment tool will Twitter be? Let’s recall Musk’s plans to ‘apply everything’:
Elon Musk has been talking about an application called “the application of everything” for a while. This application basically provides everything that comes to mind, from payment methods to messaging, from social media networks to banking transactions.
Musk also touched on fintech services such as peer-to-peer transactions, savings accounts and debit cards as part of his plan to implement everything in October.
Citing WeChat as an example in this regard, Musk had regained the “x.com” domain name a while ago. This domain name was originally acquired by Elon Musk, but when he left PayPal, it remained in the hands of PayPal. Payment methods integration with Twitter could be the start for Elon Musk’s super app plans…
Elon Musk is no stranger to financial services!
We can easily say that the decision of payment integrations to Twitter is not surprising. Moreover, there are two main reasons for this. The first of these is PayPal. Established as a payment method used in many countries of the world, PayPal was a project implemented by Elon Musk himself. As a matter of fact, we know that Elon Musk is already experienced in this regard.
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