• Musk had tweeted that there were plans underway to revamp the verification process.
• Twitter's chief executive and finance boss reportedly left with immediate effect.
Twitter is planning to charge users with the blue verification badge on a monthly basis.
According to reports by Platformer, executives at the Elon Musk-owned company spent the weekend discussing the move and making plans related to the project.
The report said if the project makes it forward, users who subscribe to Twitter Blue at $4.99 (Sh606) a month will now have to part with $19.99 (Sh2,424) or lose their badges, if the planned changes are effected.
Musk had tweeted that there were plans underway for the verification process to be reviewed.
"The whole verification process is being revamped right now," Musk said in a tweet.
Twitter Blue, which is an optional feature unlocks additional tools for users at a fee. It was launched last year.
As the changes take effect, verified users will have up to 90 days to subscribe or lose their blue checkmark.
Musk completed his Sh5.3 trillion ($44bn) takeover of Twitter on Friday.
Twitter's chief executive and finance boss reportedly left with immediate effect.
The new developments come even as Musk had tweeted his interest in the platform was not about making money.