The current owner of Twitter, Elon Musk, is trying to monetize the social network with plans that change every day, but that seem to be moving towards the establishment of an internal payment system long term.
Musk has anticipated some of his plans during a live meeting held this Wednesday in Spacesfocused on advertisers and the future of the platform, which include money transfers, for which the company has already registered with the Financial Crimes Control network, belonging to the office of the Treasury Department from the United States, as reported by The New York Times.
Another novelty will be the commitment to video, in order to support the ecosystem of content creators. would follow the paywall in which the company is already working, which will allow users to unlock audiovisual content in exchange for a payment.
In this service, the creators would have control over the price, determining a payment of between one and ten dollarsaccording to the first information shared by The Washington Post.
Musk has explained that in order to make the bet on the video, and that creators can monetize their content, First they have to implement the necessary architecture to be able to support it in the social network.
Likewise, it has indicated that this payment wall, together with the verification process, will be at the base of its payment system. In fact, Musk has pointed out that any user who is subscribed to Twitter Blue would have already been verified by the “conventional payment system”.
For subscription, users must enter a credit or debit card. Payment is processed through the app store’s internal shopping system to prevent fraud. Subsequently, it would be possible for users to move money within the social network, for example, by making donations.
Musk has also pointed out that the idea is that users have a balance on Twitter, for which, in the long term, they would allow bank accounts to be linked to the user profile. “The next step would be this extremely compelling money market account offer where you get an extremely high return on your balance”, he explained.