Elon Musk's Plan to Transform X (Formerly Twitter) with Payment Platform
Elon Musk plans to transform X (formerly Twitter) into an 'everything app' with a payment platform similar to PayPal. New documents reveal X's financial struggles since Musk acquired it, with revenue falling by nearly 40%. X is seeking money transmitter licenses for its new payment service, X Payments.
Key Points
- Elon Musk aims to turn X into an 'everything app' with a payment platform akin to PayPal
- X's revenue has dropped by nearly 40% since Musk acquired the company
- X is seeking money transmitter licenses for its new service, X Payments, to boost user engagement
- X Payments will offer features like paying other users, buying products, and storing money within X accounts