Twitter's rebranding, now known as X, has officially kicked off, and CEO Linda Yaccarino has provided some insights into the company's future direction. In a series of tweets discussing the change, Yaccarino hinted that the new vision, under Elon Musk's leadership, may involve integrating payments and banking features.
Yaccarino expressed her excitement about Twitter's current surge in usage, highlighting their commitment to continuously delighting their global community with innovative experiences. These experiences will span various realms, including audio, video, messaging, payments, and banking. The ultimate goal is to create a thriving global marketplace where ideas, goods, services, and opportunities can seamlessly flow.
The idea of Twitter incorporating banking features is not entirely new. In January, there were rumours that Musk was keen on bringing fintech services like peer-to-peer transactions, savings accounts, and debit cards to the platform. Additionally, there were talks of adding more tipping and shopping features. Back then, Twitter had reportedly applied for regulatory approvals in the US to enable these functionalities. However, progress seemed to have stalled when the executive in charge of the project departed in February.
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Yaccarino's recent memo hints that these banking ambitions might have been revived. However, the details remain vague for now. Musk has previously expressed his vision of turning Twitter into an "everything app" similar to WeChat in China, where the messaging app serves as a central hub for various daily activities.
While Yaccarino's memo leaves some questions unanswered, she highlighted that X would push the boundaries in transforming the global town square. She referenced recent updates made by the company, particularly concerning creator monetisation and long-form content. It's evident that X aims to create an extraordinary user experience, moving at an unprecedented speed to serve its vast community of users and customers.
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