Twitter will have its own payment system and aims to become a super app

New reports suggest that TWitter is working on creating its own payment systemwhich is one of the first steps of a social network on its way to becoming a super app.

A report published by the Financial Times showed that the company hopes to be able to integrate the payment system with its platform once it is completed..

Esther Crawford, director of product management at Twitter, has been revealed to be building the payment system and is evaluating the best way to build a new product with a small team of developers and experts.

The development of the payment instrument will already be at an advanced stage, taking into account that from the social network They have already started applying for the appropriate regulatory licenses in the US.. Added to this is the fact that Twitter plans to create a vault to store information about those users who want to use the payment system.

Twitter’s goal is to have its payment system up and running from some point in 2024.so there is still a lot of work to be done before users in the United States can start using it.

super app

Purpose of Twitter with payment system integration become a so-called super-app, combining several services that allow it to attract the attention of users for a longer time..

According to Elon Musk himself, this is one of the company’s short-term goals, since the billionaire owner of Twitter wants to turn the application into a Western version of WeChat, a Chinese social network that offers services for managing procedures, network social networks. , means of payment, news and others.

On Twitter, they hope to have permissions granted within a year so they can start working as soon as possible..

Twitter isn’t the only company interested in providing financial services, as Apple has also done the same with Apple Pay Later, its deferred payment system that will allow users to make purchases and pay in installments without incurring interest.