Musk will enable digital payments and increased revenue for Twitter users

The next phase, according to him, would be this offer for a money market account with an incredibly alluring yield on your balance. "Add debit cards, checks, and other payment methods after that to basically make the system as functional as you can. Additionally, more people will utilise it if it is interesting and beneficial "added he. However, Musk avoided discussing cryptocurrencies in relation to his plans for Twitter's payment system. Musk claimed last month that he was buying Twitter to realise his dream of creating a super app named X.com that would be accessible to everyone worldwide and be similar to China's WeChat. Musk was a co-founder of X.com, an online bank that was merged to create PayPal in 1999.

Musk will enable digital payments and increased revenue for Twitter users

Elon Musk has revealed his ambitions for digital payments with them, in which users will be able to send money to others like China's WeChat, as more advertisers reduce their expenditure on Twitter.

Musk described his plan for Twitter to enter the digital payments sector in a live-streamed discussion with advertisers, according to TechCrunch.

Users would have the option to transmit money, "extract their funds to authorised bank accounts, and, subsequently, possibly, be provided a high-yield money market account to incentivize people to migrate their cash to Twitter," he claimed.

Last Monday, Twitter submitted registration paperwork to the US government, allowing it to accept payments on its site. 

Musk explained how paid verification through the Blue membership service and support for a creator ecosystem may usher in payments on Twitter in an online discussion with advertisers that he held late on Wednesday.

Subscribers to Twitter Blue must enrol using a credit or debit card, and payments must be handled through the in-app purchase functionality of the respective app stores.

Now that you have a balance on your account, we can say, "Okay. Do you wish to transfer money over Twitter to someone else? Musk informed the sponsors.

The user can then transfer the funds to a verified bank account in order to remove them from Twitter.

Musk also described the enormous interest rates that Twitter users may receive. 

The next phase, according to him, would be this offer for a money market account with an incredibly alluring yield on your balance.

"Add debit cards, checks, and other payment methods after that to basically make the system as functional as you can. Additionally, more people will utilise it if it is interesting and beneficial "added he.

However, Musk avoided discussing cryptocurrencies in relation to his plans for Twitter's payment system.

Musk claimed last month that he was buying Twitter to realise his dream of creating a super app named X.com that would be accessible to everyone worldwide and be similar to China's WeChat.

Musk was a co-founder of X.com, an online bank that was merged to create PayPal in 1999.

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