Twitter is clearly facing some major issues linked to the launch of a rival app by Meta called Threads. But keeping that aside for now, the company is definitely happy for another reason.
And that has to do with a major win in terms of gaining an official license linked to fund transfers on the platform.
The license is solely limited to three different states across the US but that does not mean this cannot be the start of more changes to come forward in the future soon.
As spotted by Twitter Daily News who mentioned the company attained money transfer licenses in the American states of New Hampshire, Michigan, and even Missouri. They feel this is the initial step that has to do with making direct payments through the firm.
The win is a clear source of happiness for tech billionaire Elon Musk who has seen this as a part of his vision from day one where he hoped to transform Twitter into a everything application.
Elon Musk has spoken about this since day one and how he has a major vision to make the microblogging network a place that offers similar endeavors to that of the WeChat app from China. The latter has been the talk of the town where people remain connected as it links billions from the same region.
Through the app, users from China can do anything and everything in terms of activities. From purchasing plane tickets to buying their favorite necessities and more- the list is endless. Similarly, the app enables them to stay connected with others in the country and provides them with the latest updates having to do with trends and more.
We first saw Elon Musk come forward and announced his innovative X concept, way back in the year 1999. This is when he put out his initial online start-up in the world of banking and beyond. But later, this got merged to form PayPal but if you think the world’s richest person was going to stop there, think again.
He brought out more ideas from this notion including concepts related to making his own app that had everything and that entailed payments and more types of activities.
Today, he’s making more efforts on this aspect and trying to bring the concept ahead by adding payments to Twitter so that more and more users see it as a valuable utility and not just for the sake of socializing.
As it is, the Tesla and SpaceX CEO spoke to investors on Twitter about how he predicts that by the year 2028, revenue generation could reach the billions figure.
Now the question on many people’s minds is whether or not such an idea would work or not. Remember, the problem here has little to do with originality but more to do with him adding payments because that would mean establishing connectivity.
Meta happens to be a top example of that behavior where it made huge efforts to add things like functionality with the hopes of turning into WeChat’s western variant. But that didn’t go as planned and the company had to focus more on turning WhatsApp into a platform for payments and beyond. But again, it’s a slow and steady process.
The same goes for Twitter. While this is something worth raving about, only three states have received approval so far and it’s a long journey ahead to really create this element further and make a new pathway where both buying and payments could be done in one place.
Read next: Survey Reveals Growing Frustration with Scam Calls and Fraudulent Activities
And that has to do with a major win in terms of gaining an official license linked to fund transfers on the platform.
The license is solely limited to three different states across the US but that does not mean this cannot be the start of more changes to come forward in the future soon.
As spotted by Twitter Daily News who mentioned the company attained money transfer licenses in the American states of New Hampshire, Michigan, and even Missouri. They feel this is the initial step that has to do with making direct payments through the firm.
Twitter applied for payments licenses across the US in November.
— T(w)itter Daily News (@TitterDaily) July 5, 2023
Elon stated last month that Twitter Payments could launch towards the end of the year, presumably when approval has been won in the US and other countries. https://t.co/P0Z6uhUnAc
The win is a clear source of happiness for tech billionaire Elon Musk who has seen this as a part of his vision from day one where he hoped to transform Twitter into a everything application.
Elon Musk has spoken about this since day one and how he has a major vision to make the microblogging network a place that offers similar endeavors to that of the WeChat app from China. The latter has been the talk of the town where people remain connected as it links billions from the same region.
Through the app, users from China can do anything and everything in terms of activities. From purchasing plane tickets to buying their favorite necessities and more- the list is endless. Similarly, the app enables them to stay connected with others in the country and provides them with the latest updates having to do with trends and more.
We first saw Elon Musk come forward and announced his innovative X concept, way back in the year 1999. This is when he put out his initial online start-up in the world of banking and beyond. But later, this got merged to form PayPal but if you think the world’s richest person was going to stop there, think again.
He brought out more ideas from this notion including concepts related to making his own app that had everything and that entailed payments and more types of activities.
Today, he’s making more efforts on this aspect and trying to bring the concept ahead by adding payments to Twitter so that more and more users see it as a valuable utility and not just for the sake of socializing.
As it is, the Tesla and SpaceX CEO spoke to investors on Twitter about how he predicts that by the year 2028, revenue generation could reach the billions figure.
Now the question on many people’s minds is whether or not such an idea would work or not. Remember, the problem here has little to do with originality but more to do with him adding payments because that would mean establishing connectivity.
Meta happens to be a top example of that behavior where it made huge efforts to add things like functionality with the hopes of turning into WeChat’s western variant. But that didn’t go as planned and the company had to focus more on turning WhatsApp into a platform for payments and beyond. But again, it’s a slow and steady process.
The same goes for Twitter. While this is something worth raving about, only three states have received approval so far and it’s a long journey ahead to really create this element further and make a new pathway where both buying and payments could be done in one place.
Read next: Survey Reveals Growing Frustration with Scam Calls and Fraudulent Activities
