Elon Musk's X to Change Payment Method, Introduces Peer-to-Peer Style
- Elon Musk's X, formerly Twitter, is rolling out a new payment method in 2024
- The company said in a blog post that it wants to turn the firm into an everything app where users will live their lives in one place
- It stated that it will also deploy AI to boost user experience on the platform in 2024
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Pascal Oparada has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.
Elon Musk's X, formerly called Twitter, is planning to roll out a peer-to-peer payment system on the platform this year as part of moves by Musk to turn it into an everything app, a plan he has had since he acquired the social media platform two years ago.
The company said in a blog post that peer-to-peer payments will be launched in 2024 and unlock more user utility and new opportunities for commerce.
Source: Getty Images
New method to unlock the power of X
X revealed that the new method would unveil the platform's power with users living in one place. It also highlighted plans to deploy AI in 2024 to boost user experience on the platform.
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The statement said:
"We will increasingly power the X user and advertising experience through Artificial Intelligence — from enhancing search and improving ads to fueling a new level of customer understanding.
According to the platform, it will continue to invest in creators and content partnerships that attract new users and boost advertising.
80,000 content creators paid in 2023
Regarding its achievements for 2023, the firm said it invested in creators and paid 80,000 content creators via its ads revenue-sharing programme in less than a year.
The Guardian reports that the social media company said it was able to make advertising more relevant and impactful by bringing organic and ad algorithms closer together while launching new products and content partnerships to help advertisers drive full-funnel outcomes.
The company said via these changes, it will see a 22% increase in total ad engagements.
Jubilation as Elon Musk pays Nigerian content creators on Twitter, users display bank balance
Legit.ng reported that Twitter content creators and social media influencers in Nigeria have begun receiving payments from X, formerly Twitter, via its ad revenue-sharing model.
The payment, which began in the US in July, saw Nigerian users display various sums received from the microblogging site.
The company announced the programme's extension to global users at the end of July.
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Source: Legit.ng
