News
Elon Musk Reveals Twitter Rebrand And Changes Logo To “X”
After the controversial CEO spent a busy evening tweeting about the upcoming name change, today, the well-known bird logo has been axed.
Yes, you read that correctly, and no, this isn’t a late April Fool’s joke. The domain X.com now redirects to Twitter, following an announcement from owner Elon Musk last night amidst a flurry of Tweets.
The iconic Twitter bird logo, which has been used since 2010, has already been replaced by a temporary “X” logo, which Musk explained would probably be “refined” in the near future.
— Elon Musk (@elonmusk) July 23, 2023
Elon Musk has used the letter X repeatedly in his various projects and originally intended PayPal to be named “X.com”. At one point, the eccentric billionaire started a Twitter Spaces session called “No one talks until we summon Elon Musk,” where he sat silently for nearly an hour before unmuting himself and confirming he would change Twitter’s logo the following day, adding “we’re cutting the Twitter logo from the building with blowtorches”.
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Last night, Musk reportedly sent an email to Twitter employees announcing that the company would soon be known as X and that this was the last time he would email from a Twitter address, according to a Threads post from Zoe Schiffer, managing editor at news site Platformer. Schiffer added that she assumed Musk was talking about the new logo “since Twitter’s business was already renamed X Corp”.
There have been several controversial changes to the platform since its sale to the Tesla and SpaceX entrepreneur, but the rebranding to X.com is the clearest indication yet from Musk that the site is no longer the same social network it was before his takeover.
News
Saudi Digital Payments Reach 80% As Cash Use Shrinks
Visa data shows cards and mobile wallets dominate spending, with smartphones now driving a growing share of daily transactions.
Digital payments now account for 80% of all transactions in Saudi Arabia, according to Visa’s latest Where Cash Hides report, another marker of how quickly the Kingdom is moving away from cash.
The share is up four percentage points from a year ago. Around 67% of consumers are now largely non-cash users, paying mainly with cards or mobile wallets. Smartphones are taking a bigger role, with mobile payments making up 16% of transactions.
Cash is retreating in routine spending. Eating out dropped 9%. Bill payments fell 8%, as shoppers opt for faster checkouts and app-based payments.
“The data shows a steady move toward digital payments in Saudi Arabia. Such progress is possible only because banks, fintechs, merchants, and technology partners are moving together in the same direction, in line with the Kingdom’s Vision 2030,” said Ali Bailoun, Visa’s Senior Vice President and Group Country Manager for Saudi Arabia, Bahrain, and Oman.
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Despite the recent findings, it’s important to note that cash hasn’t yet disappeared. It still shows up for tips (39%), peer-to-peer transfers (28%) and rent (14%).
Visa points to security features such as tokenization, along with rewards and cashback, as factors nudging more spending onto cards and phones — a shift that tracks with Saudi Arabia’s wider Vision 2030 push to digitize commerce.
Saudi Digital Payments Reach 80% As Cash Use Shrinks
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