Twitter is one of the biggest social media hotspots where people can share information and chat with each other. And promote products as many of the influencers do too. The company has plans for much more though as they look to find other sources of revenue within its social media ecosystem with a new report from The Information suggesting that the company is working on a payment feature to let people send money to each other.
The feature is intended to allow for better promotion of business services on the platform where companies can do more than just promote themselves through twitter, but possibly use it to initiate payment as well. A market which twitter hasn’t really explored yet as it has generally been used more for self-promotion that any form of actual marketplace or business vehicle. Which the company clearly plans to change.
The report does not reveal too much further on the timeline for this project yet, which will likely lonely be available in the US initially give the complexities that come with this sort of service – interaction with the different banking systems, etc, though Twitter may also try to integrate to several cryptocurrencies or PayPal to help with broadening that.
While I can understand the business reasons for Twitter wanting to go down this path, it may need to change its image to perhaps come across as a more business-friendly service. Especially given its lax attitude in the past towards security and the fact that it is simply too easy to create Twitter accounts, they will need to work hard on building trust in this department before people would likely use the service legitimately form a payment perspective. On the other hand, though people could also just pay me for being awesome when I like their post. That would be great.
Last Updated: January 14, 2020