Twitter Inc is working to introduce payments on the social media platform and has begun applying for regulatory licenses, the Financial Times reported on Monday, citing people familiar with the matter.
New boss, Elon Musk is pushing Twitter to create new streams
of revenue as it faces a drop in advertising income, following his $44-billion
takeover of the company in October.
The development on the payments feature is being led Esther
Crawford, a director of product management at Twitter, according to the report,
which added that the executive was emerging to be a key lieutenant to Musk.
Twitter did not immediately respond to a Reuters request for
comment.
Musk had previously said that the Twitter acquisition would
be part of a master plan to create "the everything app", a service
that would offer social networking, peer-to-peer payments and e-commerce
shopping.
Prior to Musk's takeover, Twitter in early 2021 was exploring
allowing its users to receive tips, or digital payments, from their followers.
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