12/3/2023 0 Comments Elon musk paypal operating systemIn this photo illustration, a phone screen displays the Twitter account of Elon Musk with a photo of him shown in the background, on April 14, 2022, in Washington, DC. (Photo : OLIVIER DOULIERY/AFP via Getty Images) The Tesla boss is planning on bringing financial services to the platform, including services like debit cards and savings accounts. Musk reportedly wants to transform Twitter beyond its social media format. Read Also: CryptoWatch: Bitcoin's Rise, Twitter's Secret Digital Coins, and Binance's Employment Increase Would Twitter Soon Rival Services Like PayPal? He and his team have reportedly started developing all the infrastructure needed to expand Twitter beyond being a social network. The anonymous sources revealed that the Director for Product Management at Twitter, Ester Crawford, is now working on its payment services. The sources of Financial Times further noted that the social media firm has started applying for state licenses as well, as it gears up for its launch. So it seems that the paperwork began as early as last year. In fact, a regulatory filing disclosed that Twitter registered with the United States Treasury last November, designating it as a payments processor. The news outlet reports that Twitter has started applying for necessary filings required to launch a payments service. Once it starts rolling, it could likely compete with other payment giants, such as PayPal, which Musk founded and sold decades ago. Twitter Payments has yet to officially take off, but it looks like Musk is working to make it a reality.įinancial Times reports that the social media giant, which the billionaire entrepreneur now owns, is taking steps to launch its payments services. Tesla CEO Elon Musk speaks during the unveiling of the new Tesla Model Y in Hawthorne, California on March 14, 2019.Īnd this time, the Chief Twit is reportedly planning to expand Twitter into a payment service.
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