Source: Blockchain Knight
CEO of X Company, Linda Yaccarino, announced that the social media platform (formerly known as Twitter) is set to introduce a payment feature for users as it continues to move towards becoming a “universal app.”
Speaking at the Cannes International Creativity Festival in France, Yaccarino emphasized the innovative progress the company has made under her leadership since Elon Musk’s acquisition of Twitter in 2022.
Yaccarino stated: “We are focusing on the needs of our users. The vision we have and the pace of innovation within the company is indescribable to me.”
Musk envisions Twitter becoming an “all-encompassing app,” covering services ranging from banking to dating, and the introduction of the payment feature is a part of Musk’s vision.
The upcoming financial ecosystem aims to integrate various technological functions to provide users with a multitude of new experiences. The payment feature is initially planned to support “fiat currency” only, but as development progresses, it may possibly support Crypto asset payments in the future.
This aligns with Musk’s enthusiasm for Dogecoin, although it has not been officially confirmed whether Dogecoin will be integrated.
X has made significant progress, obtaining three remittance licenses in July last year, laying the groundwork for its new payment system.
Yaccarino emphasized that this development will offer users a range of new experiences, changing how they interact and transact on the platform. She added: “There are so many new things waiting for us to experience, and once we launch the payment system, a financial system will emerge on the X platform.”
In addition to payments, X also plans to introduce other features, including video calls and job search functions. These additions are part of a broader strategy to enhance the platform’s utility, making it a comprehensive destination for personal and professional networking.
After Musk’s acquisition of Twitter in 2022, Yaccarino took on the role of CEO in 2023.
Since assuming the position, Yaccarino has focused on enhancing the company’s rapid innovation and expanding technological capabilities. She stated that the changes made to the platform have “exponentially” increased the amount of information available to users.
Under Yaccarino’s leadership, X has transitioned from a simple text platform to one that incorporates advanced features such as artificial intelligence, audio calls, and video streaming.
In recent months, these changes have improved the platform’s usage time and user engagement metrics, demonstrating a positive growth trend.
Furthermore, the return of major advertisers has been a key factor in X’s recent success. Yaccarino noted that 90% of the top 100 advertisers have returned to the platform, indicating increasing confidence in the platform’s new direction.
