Twitter has begun to apply for regulatory permission to introduce the payment function.

Thanks to CTOnews.com netizen Brother Black fly's left hand clue delivery! CTOnews.com, January 31 (Xinhua) Twitter is working hard to introduce a payment function on the platform and has begun to apply for regulatory permission, the Financial Times reported on Monday, citing sources.

The development of the payment function is led by Esther Crawford, Twitter's director of product management, according to two people familiar with Twitter's plans, and the executive is becoming an important deputy to Mr Musk, the report said.

The payment plan is the key to Musk's opening up new sources of income. Twitter's $5 billion-a-year advertising business has been in trouble since Mr Musk bought the platform for $44 billion last October.

CTOnews.com has learned that Mr Musk has previously said he wants Twitter to provide fintech services such as peer-to-peer trading, savings accounts and debit cards as part of its overall plan to launch "Everything App", which combines messaging, payments and commerce.