X is expected to introduce a payment service soon, Elon Musk’s “Universal App” Vision
X Payments, a subsidiary of the microblogging platform , recently received money transmission licenses in 33 US states.
According to claims by independent social media app researchers, X (formerly Twitter) may soon introduce its own payment service. Since its acquisition by Elon Musk, the microblogging platform has undergone a myriad of changes, from changing its logo, name and domain to dropping traditional authentication methods and introducing artificial intelligence (AI) chatbots . Musk has emphasized his ambition to turn the platform into a “jack-of-all-trades” app that offers payments, shopping, job-hunting and other services in addition to its existing microblogging functions.
This latest leak suggests the platform is taking another step towards realizing Musk’s vision.
Paying X
was discovered by independent app researcher Nima. Owji (@nima_owji ) is someone who has a track record of unearthing unannounced features for X. In a post on the microblogging platform, Owji revealed that X may allow users to access payment services via a Payments feature. According to screenshots shared by the user, the feature could appear in the left navigation panel below the Bookmarks option.
Speaking with TechCrunch , the researcher said this included references to options such as “transactions, balances and transfers.”
This development builds on previous plans for X, outlined by Musk himself during a conversation with Ark Invest CEO Cathie Wood in December last year. At the time, the X chief suggested the payment service would be launched “mid-2024.” In a blog post on January 9, X announced that the launch of peer-to-peer (P2P) payments will be one of the platform’s goals for 2024. According to the company, the payment service will open up new opportunities for commerce and increase convenience for users.
The microblogging platform ‘s subsidiary, X Payments, has received money transmission licenses in 33 US states, including recent ones granted in Alabama, the District of Columbia and California. If the move goes ahead, it could make X a potential competitor to PayPal, the US-based payment services company formed in 2000 when Musk ‘s X.com and Confinity merged.