Musk envisions a sophisticated payment processor inside Twitter that would enable users to directly reward artists, buy products without leaving the service, and transfer money to others. The platform will initially allow currency transactions, but Musk aims to design it so that crypto functionality may be added later.
Crawford, the recently named CEO of Twitter Payments, also serves as Twitter’s director of product management. According to reports, she and her team are developing a “vault” to store and preserve user data that Twitter would need. As a payment processor, Twitter must follow banking standards, which means it must gather user identity data and report any suspicious activity to authorities.
