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A comment on Twitter has officially changed its logo to ‘X’. Parent comment

Re:Twitter has officially changed its logo to ‘X’ by er4hn on Monday July 24, 2023 @01:59PM (#36851878)
It worked well for WeChat because they were able to launch a feature at a point when there were not very strict AML requirements in China and it was much easier to get consumers and merchants onboarded compared to credit cards. I don't have any anecdotes about how often person2person payments are done on WeChat vs person2business, but I have seen it being used very frequently for p2b. If you can build a low friction app that solves a problem, people will use it.

That being said, Wechat payments are also rife with every form of scam, irreversibility, and fake QR code issues that people in the West warn about. That (and the AML stuff) is why it seems to be getting more scrutiny by the Chinese govt.

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Re:Twitter has officially changed its logo to ‘X’ by ke88y on Monday July 24, 2023 @02:52PM (#36852666)
> If you can build a low friction app that solves a problem, people will use it.

For p2b, Apply Pay lets me tap my power button twice and hold it next to the payment terminal. Hard to get lower friction than that.

For p2p, the space is already saturated (Zelle, Venmo, etc.) It's unclear why I would want to use Twitter -- sorry, x -- for this in particular. Also, with the launch of FedNow, the days of new entrant intermediaries in the USA are coming to a close.

Finally, as Goldman Sachs just learned, consumer banking is a brutal business. I think the closest they got to building anything like breaking into consumer credit/banking was becoming the bank that supported the Apple-branded credit card.

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