After the acquisition of Twitter by Elon Musk, a lot of developments were brought into place. Recently, Doge Designer, who is a UI, UX, and graphic designer at DogeCoin as well as My Doge Inc. posted on Twitter about an upcoming payment system to be available on Twitter. Doge Designer also added that this could be a potential no. 1 app for Fiat as well as Crypto.
Have a look at this tweet here.
Payments are coming soon on Twitter. It has a potential to be #1 payments app for Fiat & Crypto both. 💯 @elonmusk pic.twitter.com/4YQNyhutC3
— DogeDesigner (@cb_doge) February 5, 2023
In 2022, Elon Musk mentioned his plans to introduce a payment feature for Twitter.
As per a previous report by Reuters, Twitter is working on its ‘Payments’ feature. The social media app has also started applying for regulatory licenses.
The upcoming ‘Twitter Payments’ feature could be another new way to generate revenue for Twitter. Further, it is also important to notice that Twitter was also trying to explore a way of receiving payments or tips prior to Elon Musk’s era of Twitter acquisition.
The potential usage of the ‘Payments’ feature of Twitter is to pay for advertising or tipping. A creator ecosystem might also be put into place. Potentially, there might be a creator monetization payout option. The creator monetization option is already available on other social media apps such as Instagram.
In the near future, Twitter Payments might compete with PayPal or Apple Pay in the United States of America.
It would be great to observe what happens next with ‘Twitter Payments’. If the ‘Payments feature’ is officially made available for Twitter users, it might prove to be beneficial for Twitter.
