Elon Musk has announced the implementation of a long standing ambition - to rebrand twitter to X - having taken stewardship of the social media titan last year. As the bird on our home screens spreads it’s wings, Musk will hope to usher in a whole host of transformative changes to an app that has already changed the world once.
Twitter’s managing director, Linda Yaccarino explained that: “X is the future state of unlimited interactivity - centered in audio, video, messaging, payments/ banking - creating a global marketplace for ideas, goods, services, and opportunities. Powered by Al, X will connect us all in ways we’re just beginning to imagine”.
Musk’s desire to turn Twitter, or X, into a super-app that may one day emulate the functionality and dominance of WeChat in Asia, are hardly well concealed. The inclusion of payments and banking in his plans take him a step further towards that goal, but poses a number of important questions.
VibePay has fostered intimate relationships with both neo and legacy banks to build an open baking experience that you can trust, with growing communication capabilities. Can Musk garner your faith, and provide a truly secure and safe environment for your banking? Will the west adopt a super-app that encompasses a multitude of moving parts? We’ve already seen Microsoft Teams integrate payments into their software earlier this year, to an arguably underwhelming response. Nonetheless, the direction in which the market is moving is clear. There is a hunger for apps that do it all. We’re working on it.
We’d be keen to know your thoughts…
All the best,
Will
