Twitter is exploring adding a subscription feature as a way to ease its dependence on advertising. These paid subscriptions will include charging money for access to Tweetdeck.
TweetDeck is a popular alternative to the main Twitter website and mobile app with a dashboard that allows users to efficiently manage multiple accounts. The service is primarily targeted at professional creators on the site.
Apart from charging for TweetDeck, the company is also said to be exploring other ideas, including charging for new features like an “undo send” button or more profile customization options like profile badges, custom colors, the ability to publish longer and more high-def videos, auto-responses and more in-depth analytics. Another idea involves introducing “tipping” to Twitter, where users could pay accounts for exclusive content.
Why this matters: The majority of Twitter’s revenue comes from targeted advertising, but the business has grown at a slower pace than competitors like Facebook and Snap Inc that is why the company is exploring these alternative options as a way to reduce its dependence on advertising
What they are saying: According to Bloomberg, Twitter Chief Financial Officer, Ned Segal, a subscription option of some kind would offer sales ‘durability,’ and recurring revenue is more consistent than advertising spending. He also noted that Twitter was not only “very, very early” in exploring a subscription service, but also planned to be picky about how it goes forward.
“We have a really high bar for when we would ask consumers to pay for aspects of Twitter,” Segal said.
Reports from Bloomberg show that Twitter is under pressure by high-profile activist investors to diversify, so introducing premium paid features would be a good way to increase revenue and accelerate growth.
Twitter is due to report its latest earnings tomorrow, so there’s a chance that they may update investors on these ideas.
How scammers use SIM cards to rob your bank accounts
An arrested fraudster has confessed to the methods use to rob bank accounts via access to your phone.
A lot of people are highly ignorant to how losing their phones to fraudsters can lead to a complete clean-up of their bank accounts.
If you ask any banker, he or she will tell you about the hundreds of customers who have often come crying to the banks for help after realising that the money in their bank accounts have either fallen short of what it should be or has hit red.
These frudsters do this by stealing victims’ identity; name, address, bank information which they use in gaining access to their bank aacounts. They also use the stolen identity to defraud other people and even apply for loans, leaving the victim with debts.
A local fraudster arrested by the Police confesses to how he steals money from people’s bank accounts through their SIM cards. He claims he does “Wire Wire” also called SIM transaction or “Joker wire” where he can unlock, transfer and withdraw from any SIM card that is linked to a bank account.
In a video posted on Twitter by Jubril Gawat, the Senior Special Assistant (SSA) on New Media to the Governor of Lagos State, Babajide Sanwo-Olu, the arrested fraudster confessed that once he gets hold of such a phone, he gains access to it easily by dialing the code, *425*100# to reveal the bank account connected to the SIM card.
For example, if it is an Access Bank aacount, he will dial *901*00# to show the users account balance. He will then proceed to reset the PIN, and the bank will ask for the account number and date of birth of the account holder. Since a lot of people save their account number on their contact list, He can easily get it there.
He will then proceed to use the account number to get the victim’s BVN, then use the BVN to get all his/her details by dialing *565*0#. With this information, he will proceed to reset the PIN, then use the date of birth to create a new PIN. From there, he will be able to transfer money out of the account.
He explains further that if the SIM card owner is a salary earner or owns a salary account, he will be eligible to apply for loans. As long as it’s the SIM used to receive bank account alerts, he can hack it. He does it so efficiently that the main owner of the account will receive no alert on any transactions done.
He transfers the stolen money to a “No trace Account” (Aza) using another stolen sim with its BVN to create it,
so the new account will be used to receive the funds and the owner of that stolen SIM card will be the one that will be traced.
Even if he does not see a SIM to use, as long as he can get the BVN, he can use it to receive the funds.
It can be tough to keep up with the many vices of internet fraudsters, who are constantly changing their techniques to keep ahead of the authorities. Being a victim of fraud can affect people of any age, and it can cost a lot of money.
We have valuable information we let out easily, but unconsciously. And there are people out there waiting to get hold of such information. It is advisable to always be careful of where and how we store our personal information.
Twitter launches Clubhouse competitor, Spaces
Twitter has launched Spaces, an app that could rival the popular Clubhouse.
Social media giant, Twitter has announced the launch of a voice content app for use mainly on iOS. Several users have been invited to join the Spaces feature for testing so far.
Twitter disclosed this in a statement on Wednesday announcing product updates and then during a Q&A session for the Spaces feature.
“Spaces is a place to come together, built around the voices of the people using Twitter, your Twitter community. Spaces are live for as long as they’re open; once ended, they will no longer be available publicly on Twitter,” Twitter said.
It added that the feature would be rolled out to a select few to learn and gather feedback from a variety of communities on Twitter.
“While anyone on iOS will be able to join a Space, only people in the small group will be able to create Spaces. We will expand the list of people who can create Spaces over time,” Twitter added.
What you should know
- Twitter is not the only social media giant working on a Clubhouse competitor. Nairametrics reported that Facebook is creating an audio chat similar to the popular audio chat app, Clubhouse.
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