Elon Musk’s X could soon introduce payment services on the platform
X (formerly Twitter) may soon launch its own payments service, according to claims from an independent social media app researcher. Since being acquired by Elon Musk, the microblogging platform has undergone a slew of changes – from changing its logo, name and domain to removing traditional authentication methods and introducing artificial intelligence (AI) chatbot Grok. Musk has emphasized his ambitions to make the platform an “everything app,” offering services such as payments, shopping and job applications, beyond its existing microblogging capabilities.
This latest leak suggests the platform is taking another step toward realizing Musk’s vision.
Payments on X
The payment feature was discovered by independent app researcher Nima Owji (@nima_owji), who has a track record of discovering unreleased features on X. In a after On the microblogging platform, Owji revealed that X may allow users to access payment services through a Payments feature. A screenshot shared by the user suggests that it may appear on the left navigation panel below the Bookmarks choice.
BREAKING: X Payments coming soon! photo.twitter.com/8JBIHjHOls
— Nima Owji (@nima_owji) August 5, 2024
In a conversation Speaking to TechCrunch, the researcher said it includes references to options such as “transactions, balance and transfer.”
This development builds on an earlier plan for X that Musk himself laid out during a conversation with Ark Invest CEO Cathie Wood last December. At the time, the X chief hinted at a potential launch timeline for the payments service of “mid-2024.” In a blog post after On January 9, X announced that launching peer-to-peer (P2P) payments would be one of the platform’s goals for 2024. According to the company, payment services would unlock new opportunities for commerce, increasing user utility.
Contributing to this vision, X Payments, a subsidiary of the microblogging platform, has obtained money transmission licenses in 33 U.S. states, including recently granted licenses in Alabama, the District of Columbia, and California. If this move comes to fruition, X could become a potential competitor to PayPal, the U.S.-based payments company formed after Musk’s X.com and Confinity merged in 2000.
