X, the social media platform formerly known as Twitter, is set to launch a payments feature soon, CEO Linda Yaccarino has announced, marking a major step towards the platform’s goal of becoming the “everything app”.
Speaking at the Cannes International Creativity Festival in France, Yaccarino said Twitter had experienced rapid innovation and progress under her leadership since Elon Musk acquired it in 2022.
X is moving towards a "universal application" program
It is said that the payment function will initially support transactions in fiat currencies, but the X platform is also actively exploring the possibility of integrating cryptocurrency payments in the future, which is consistent with Musk's support for cryptocurrencies such as Dogecoin. Although there is no official confirmation about the integration of cryptocurrency payments, this shows the X platform's open attitude towards financial innovation.
X platform has obtained three money transfer licenses in July last year, laying a solid foundation for building a new payment system. Yaccarino emphasized that the launch of the payment function will provide users with a brand new experience and change the way they interact and trade on the platform.
Meanwhile, Yaccarino told FemaleQuotient that the vision for the X platform is to redefine the types of apps that users rely on. She said: “The scope of our vision and the speed at which the company is innovating is beyond my ability to describe.”
Musk's vision is to make Twitter an "universal app" that covers multiple services such as banking and dating, and the upcoming financial ecosystem is an important part of this vision.
Rapid innovation drives platform transformation
X is rapidly expanding its functionality, with plans to add video calling and job search capabilities in addition to the upcoming payment service. The addition of these new features is part of a broader strategy to enhance the X platform’s usefulness and meet the diverse needs of users, with the goal of establishing the platform as a comprehensive destination for personal and professional networking.
Yaccarino joined Twitter in 2023 as CEO after Elon Musk acquired it in 2022. Under her leadership, the company has not only accelerated its pace of innovation, but also continued to expand its technological capabilities. Yaccarino emphasized that the improvements made to the platform have greatly enriched the amount of information available to users.
Under Yaccarino's leadership, the X platform has transformed from a simple text communication platform to a modern social platform integrating advanced features such as artificial intelligence, audio calling and video streaming. These changes have significantly increased user time spent and engagement, reflecting the platform’s positive growth momentum.
The recent success of the X platform is also due to the return of major advertisers. Yaccarino mentioned that 90% of the top 100 advertisers have returned to the platform. This increase in proportion shows the market's high recognition and confidence in X's new development direction.
in conclusion
Under the leadership of Yaccarino, X Platform is rapidly transforming from a social media platform to a "universal application" integrating multiple services and functions. With the upcoming launch of payment functions and the continuous expansion of other innovative functions, X Platform is showing unprecedented development potential and market confidence, indicating that it will play a more critical role in the global digital economy. #X #万能应用 #支付功能 #Twitter
