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Title: Twitter Makes Move That Could Take Out Woke PayPal
Source: [None]
URL Source: ... at-could-take-out-woke-paypal/
Published: Jan 30, 2023
Author: Mike Rivero
Post Date: 2023-01-30 22:43:30 by Horse
Keywords: None
Views: 36

Esther Crawford, a fast-rising lieutenant to Musk inside Twitter, has started to map out the architecture needed to facilitate payments on the platform with a small team, according to two people familiar with the company’s plans.

The nascent moves to allow payments through the site are a critical part of Musk’s plan to open up fresh revenue streams. Twitter’s $5bn-a-year advertising business has cratered since he bought the platform for $44bn in October, with marketers citing concerns over its management and moderation.

Musk has previously said he wants Twitter to offer fintech services such as peer-to-peer transactions, savings accounts and debit cards, as part of a masterplan to launch an “everything app” that incorporates messaging, payments and commerce. In 1999, Musk co-founded, one of the first online banks, which later became part of payments giant PayPal.

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