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ReadersSpeak

Payments on Twitter? what could set the stage for a payment system on Twit-
ter. Musk also mentioned the possibility of offering high-
read that Elon Musk plans to yield money market accounts that could encourage users
develop a payments system on to move cash to Twitter.
Twitter, which would take the
I social media platform into new Musk does have experience in the payments space, having
territory. People have been saying helped start the online bank X.com, which merged with
he's in over his head already with Twitter, so a foray into online payment startup Confinity in 2000. Musk and his
payments could be risky. Assuming he can pull this off, co-owners named the combined company PayPal and sub-
despite his unrelated SpaceX and Tesla experience, how sequently sold it to EBay, which spun it off as a separate
will it work, and do you think there will be opportunity enterprise in 2014.
for existing companies in the payments and fintech space?
We have no inside information on how a possible Twitter
Ruth Hobbs payments system would work, but based on what we've
Fintech Research Intern read about Musk, he keeps his eye out for investment and
Ruth, partnership opportunities. We wouldn't rule out his part-
nering with an innovative payments or fintech enterprise,
We, at The Green Sheet, have read about Musk presenting whether established or startup, to help turn his vision into
his vision for a Twitter payments system during a recent reality.
live-streamed meeting with the company's advertisers. Editor
And The New York Times recently confirmed that Twitter
also filed paperwork with the U.S. Treasury Department's Social media and payments
Financial Crimes Enforcement Network (FinCEN), which Are social media platforms a current area of opportunity
is a prerequisite for being able to facilitate money trans- for payments companies? Why or why not? Please send
fers, cash checks or exchange currency. Musk stated in the us your thoughts on this topic, sound off on an industry
meeting that Twitter's revamped Twitter Blue subscription issue of concern to you or pose a question you'd like us to
as well as planned support for a "creator ecosystem" are explore to greensheet@greensheet.com.

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