Contributing to Musk’s vision, X Payments, a subsidiary of the microblogging platform, recently obtained money transmitter licenses in 33 US states.
Payment services on X
According to claims by an independence app researcher on social media, X might introduce its in-house payments service soon. The platform has undergone a wide variety of changes after Elon Musk has taken over- from its logo, name and domain change to the removal of traditional verification methods and the introduction of an artificial intelligence (AI) chatbot Grok.
According to an independent app researcher Nima Owji (@nima_owji), X may allow users to access payment services via a Payments feature. A screenshot shared by the user suggests it may appear on the left-side navigation panel below the Bookmarks option. This development builds upon a previous plan for X envisaged by Musk himself during a conversation with Ark Invest CEO Cathie Wood in December last year. At the time, the X chief hinted at a possible launch timeline of the payment services being “mid-2024”. In a blog post dated January 9, X announced that launching peer-to-peer (P2P) payments would be one of the platform’s goals for 2024. As per the company, payment services would unlock new opportunities for commerce, increasing the user utility. If this move comes to reality, it could make X a potential competitor of PayPal.
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