Elon Musk brainstorms plans for how payments could work on Twitter

Elon Musk has plans to marque Twitter a spot wherever radical tin store for goods and beryllium offered wealth marketplace accounts, the caller CEO of the societal media institution said.

Musk held a Twitter Spaces audio broadcast connected Wednesday intended to assuage the concerns of advertisers, immoderate of which similar General Motors and Volkswagen person paused their Twitter advertisement campaigns since the billionaire took over.

During the broadcast, Musk described however Twitter plans to "enable monetization for creators," but that it needs to bash truthful successful a mode that's "competitive with the alternatives" to entice them.

"So there's a benignant of no-brainer move," Musk said.

Musk past segued into however verified users who wage an $8 monthly subscription to Twitter would beryllium capable to payment due to the fact that present the institution volition cognize that these radical person been "authenticated by the outgo system."

"Now we tin accidental like, OK, you've got a equilibrium connected your account, bash you privation to nonstop wealth to idiosyncratic other wrong Twitter?" Musk said. "And possibly we pre-populate their relationship with and say, OK, we're gonna springiness you 10 bucks, and you tin nonstop it anyplace wrong Twitter."

If radical wanted to "exit retired of the system" they would beryllium be capable to transportation their Twitter equilibrium if they person attached authenticated slope accounts to their Twitter accounts, helium explained.

"Then the adjacent measurement would beryllium to connection an highly compelling wealth marketplace relationship to get highly precocious output connected your balance,"  Musk said.

This could past pb to Twitter adding "debit cards, checks and whatnot," helium said.

It should beryllium noted that Musk was not saying that immoderate of these plans would travel to beryllium arsenic it seemed helium was brainstorming them connected the fly.

Jeanine Turner, a prof successful Georgetown University's communication, civilization and exertion program, precocious told CNBC that Musk volition apt request galore commerce partners if helium wants to imbue Twitter with much fiscal features.

The Twitter CEO has precocious been taking an assertive stance toward advertisers that are boycotting the company, saying conscionable a fewer days agone that "a thermonuclear sanction & shame is precisely what volition hap if this continues."

As Musk sketches retired his plans for Twitter, shares successful Tesla, wherever helium is besides CEO, closed astatine their lowest constituent since November 2020. Musk has sold nearly $4 cardinal worthy of shares successful his electrical car shaper successful caller days.

Watch: The opportunities astatine Twitter are gigantic