A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
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August 30, 2023
On the web
The Crypto Times
July 10, 2023
On the web
Twitter Gains Money Transmitter Licenses in Three States, Takes Steps Towards Becoming an All-in-One 'Everything App’
January 30, 2023
On the wires
Twitter Inc is working to introduce payments on the social media platform and has begun applying for regulatory licenses, the Financial Times reported on Monday, citing people familiar with the matter. New boss Elon Musk is pushing Twitter to create new streams of revenue as it faces a drop in advertising income, following his $44-billion takeover of the company in October.
January 12, 2023
On the wires
November 10, 2022
On the web
“Elon Musk detailed his vision for Twitter’s plan to enter the payments market during a livestreamed meeting with Twitter advertisers, hosted on Twitter Spaces on Wednesday. The new Twitter owner suggested that, in the future, users would be able to send money to others on the platform, extract their funds to authenticated bank accounts and, later, perhaps, be offered a high-yield money market account to encourage them to move their cash to Twitter. The new remarks followed a report this morning by The New York Times which confirmed Twitter last week had filed registration paperwork that would allow it to process payments. The report cited Twitter’s filing with the Treasury Department’s Financial Crimes Enforcement Network (FinCEN), noting that a business would need to register before it could conduct money transfers, exchange currency or cash checks. In today’s meeting, Musk explained how paid verification, which Twitter is rolling out now with its revamped Twitter Blue subscription , as well as support for a creator ecosystem, could pave the way for a payments system on its platform.”
April 22, 2022
On the web
Fintech Giant Stripe Jumps Into Crypto With a Feature That Lets Twitter Users Get Paid in Stablecoin
“Stripe will allow businesses to pay their users via cryptocurrencies, starting with Twitter, in the latest sign of how large financial firms are warming to digital assets. The $95 billion online payments company said Friday it will start offering merchants the ability to make payouts in crypto through the stablecoin USDC, which is issued by crypto firm Circle. Stablecoins are tokens that are pegged to fiat currencies to maintain a stable price. In USDC’s case, as the name suggests, the cryptocurrency is backed by the U.S. dollar.”
July 20, 2018
“From porting playlists in music streaming services to health data from fitness trackers to our reams of photos and videos, the DTP could be a boon for startups. Incumbent tech giants maintain a huge advantage in popularizing new functionality because they instantly interoperate with a user’s existing data rather than making them start from scratch. Even if a social networking startup builds a better location sharing feature, personalized avatar, or payment system, it might be a lot easier to use Facebook’s clone of it because that’s where your profile, friends, and photos live.”
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