Elon Musk Submits License Applications to Make Twitter a Payment Processor

In a shocking move, tech mogul Elon Musk has submitted license applications to make Twitter into a payment processor. This would mean that users of the social media platform could send and receive payments through the site, which could have far-reaching implications for the world of online payments. Musk's motivation for this move is unclear, but some speculate it may be related to his recent tweet about wanting to see PayPal go bankrupt. While PayPal is not mentioned in any of the license applications or associated documents, it's possible that Musk sees this as an opportunity to disrupt the current online payment market and take on established players like PayPal and Venmo. The license applications are currently being reviewed by regulators, who will decide whether or not they meet all necessary requirements before granting approval. If approved, Twitter would become one of the first major social media platforms to offer its own payment processing service. This could open up new possibilities for businesses looking to accept payments from customers around the world without having to rely on third-party services like PayPal or Stripe. At this time, it's unclear how long it will take for regulators to review and approve these applications or what kind of fees might be associated with using Twitter as a payment processor. It also remains uncertain how users would actually go about sending and receiving payments through Twitter if the licenses are granted. Regardless of what happens with these applications, one thing is certain - Elon Musk's bold move has shaken up the online payment industry and sparked debate among experts about what kind of impact this could have on existing players in the space.