From pexels, edited in app

Twitter challenges competition by entering the Money Transaction Business

By Yugocean | Business Champion | 7 Jul 2023

     Twitter has obtained a license to conduct money transactions in Missouri, Michigan, and New Hampshire. Along with this, Twitter has presented a big challenge in the competition.

Twitter landed on a money transaction

     Elon Musk founded X dot com, an online bank, in 1999, which merged with Confinity, an online wallet company, to form the world's largest payment processor, PayPal. Now Musk has started the process of making Twitter an economic power by taking the license for Money transactions from three US states. Musk is trying to garner support from across the United States as well as on an international level.


Twitter: a means of earning

     Musk had announced a revenue share program with verified accounts. Although it has not started yet, Musk has started a subscription service under which creators earn a small fee from their subscribers. Twitter fees will be added later, this was the beginning of Make Money on Twitter.

Social Media Competition

     Mark Zuckerberg's "Threads" has started competing with Twitter. Zuckerberg is a veteran of competition; he has ousted social media giants like MySpace and Orkut. Donald Trump's Truth Social is Twitter's competitor on Freedom of speech and expression; there is a possibility that Threads might add some Make Money programs like Facebook Reel to give through competition.

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