Payment systems and services: Elon Musk details plans to turn Twitter into

The richest man in the world, today the owner of Twitter, revealed the plans for the social network and addressed issues associated with the controversies that have been unleashed since he bought the company.

Elon Musk detailed this Wednesday some of his plans to transform Twitterincluding the launch of a payment system through the platform and the possibility of offering other financial services such as debit cards and bank accounts.

He did so in a public conversation on Twitter Spaces, the social network’s live audio service, in which he came to confirm his intention to turn the platform into a kind of “app for everything” in the style of the Chinese WeChat (which offers messaging, payments and purchases, among other things).

Musk hinted that, at least initially, these services would be available only for Twitter Blue subscribersthe paid subscription that will now also give its subscribers the blue “tick” previously reserved for verified accounts.

According to the businessman, among other things, it is considered that whoever pays the 8 dollars a month that Twitter Blue costs can have the option to send money to another person on Twitter and to link your bank account with the social network.

The next step, he assured, could be offer bank accounts that give high interest and later debit cards or checks could be incorporatedfor instance.

Some technologies like Manzana They already offer savings accounts, as do companies specialized in digital payments such as PayPal.

Musk has significant experience in this field, having co-founded, one of the first digital financial platforms, which was later integrated into PayPal.

In parallel, today it was learned that Twitter last week sent documentation to the US authorities necessary to process payments, according to a notification seen by New York Times.

Control of content and advertisers

In addition, today he confirmed that he intends to bet more on video and to make it easier for content creators to earn income by sharing their work on Twitter, as many other platforms do.

Although he touched on various issues, Musk addressed his Twitter Spaces session mainly to advertisers, after several companies have chosen to paralyze their advertising on the social network due to doubts about its operation and its future in the hands of the richest man in the world.

Musk sought to reassure advertisers by once again assuring that, despite his promises of protect freedom of expression above all, does not want problematic content to proliferate on Twitter.

In that sense, he said that there will be no major changes in the moderation policies until the expert advice that he has promised for this purpose is established, something that could take months, as he pointed out today.

Also, defended that his idea of ​​giving the blue “tick” to paying users It will be an important tool to combat fake accounts and bots, by making the process very expensive.

He also predicted that messages from accounts without this badge will become something similar to emails that end up in the “spam” folder, that is, that they will be visible but will have much less range.

On his sudden decision to withdraw after just a few hours the new gray “official” badge that had been given to relevant verified accounts, Musk said that it was “a nightmare” from an aesthetic point of view and that “it was another way to create a two-class system” among users.

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Payment systems and services: Elon Musk details plans to turn Twitter into