Twitter Working to Introduce Payments Feature Amid Drop in Advertising Income: Report

Elon Musk had previously said that the Twitter acquisition would be part of a master plan to create "the everything app".

By Reuters | Updated: 31 January 2023 10:36 IST

Twitter Working to Introduce Payments Feature Amid Drop in Advertising Income: Report

Photo Credit: Twitter

The development of the payments feature is being led by Esther Crawford

Highlights

Elon Musk is pushing Twitter to create new streams of revenue
Twitter is facing a drop in advertising income since Musk's takeover
Twitter in was exploring allowing users to receive tips from followers

Twitter is working to introduce payments on the social media platform and has begun applying for regulatory licenses, the Financial Times reported on Monday, citing people familiar with the matter.

New boss Elon Musk is pushing Twitter to create new streams of revenue as it faces a drop in advertising income, following his $44 billion (roughly Rs. 3.6 lakh crore) takeover of the company in October.

The development of the payments feature is being led by Esther Crawford, a director of product management at Twitter, according to the report, which added that the executive was emerging to be a key lieutenant to Musk.

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Twitter did not immediately respond to a Reuters request for comment.

Musk had previously said that the Twitter acquisition would be part of a master plan to create "the everything app", a service that would offer social networking, peer-to-peer payments and e-commerce shopping.

Prior to Musk's takeover, Twitter in early 2021 was exploring allowing its users to receive tips, or digital payments, from their followers.

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Meanwhile, Twitter announced last week that users will be able to appeal account suspensions and be evaluated under the social media platform's new criteria for reinstatement, starting February 1.

Under the new criteria, which follow billionaire Elon Musk's purchase of the company in October, Twitter accounts will only be suspended for severe or ongoing and repeat violations of the platform's policies.

Severe policy violations include engaging in illegal content or activity, inciting or threatening violence or harm, and engaging in targeted harassment of other users, among others.

Twitter said that going forward, it will take less severe action, in comparison to account suspension, such as limiting the reach of tweets that violate its policies or asking users to remove tweets before continuing to use the account.

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