Twitter working on payments feature - FT

FILE PHOTO: The logo for Twitter is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 1, 2022. REUTERS/Brendan McDermid/File Photo

(Reuters) - 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.