Twitter archived documents to bring payment processing to the platform, according to a report from the New York Times.
Elon Musk, The new Twitter CEOacknowledged the move in a live stream with advertisers Wednesday morning, with the Times reporting that Musk “discussed a vision for Twitter to process payments, with debit cards and linked bank accounts.”
The documents were filed last week with the Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, according to the report.
Musk, who acquired Twitter on October 27 and is also a co-founder of PayPal, also said Wednesday that the new Twitter Monthly fee of $ 8 for a Twitter subscription Blue will allow users to switch to using the platform for payments and sending money between accounts.
“Now we can say that you have a balance in your account. Want to send money to someone else on Twitter? And maybe we’re pre-filling the account, “Musk said, according to the Financial Times, adding that users can link online bank accounts to Twitter. “So the next step would be to offer an extremely attractive money market account to earn an extremely high return on your balance,” she said. “And then add debit cards, checks.” Musk did not provide any details.
Twitter did not immediately respond to a request for comment.
