X May Introduce Its Own Payment Method Soon

It looks like X is getting closer to putting its payment mechanism into place. The firm plans to add a “Payments” button to the navigation bar under the bookmarks tab, which also contains capabilities for transactions, balances, and transfers, according to a recent finding made by app researcher Nima Owji.

This finding suggests that the X payment service may soon be launched, potentially meeting Elon Musk’s original target of mid-2024. The billionaire had plans to turn the once-named Twitter platform into an “everything app” that would let users send and receive money, access high-yield money market accounts, save money in personal X accounts, and much more when he purchased it in 2022.

Musk has already stated that WeChat inspired the possible development of X. For those who are unaware, the platform is rather important in China. It began as a private chat and has now evolved into an app that offers a variety of activities, including games and payments.

It remains to be seen if the billionaire’s social network can succeed comparably. It’s still unclear as of right now if all users would have access to X’s first-party payment system or just its Premium subscribers. Regarding that, it’s unclear if the business intends to make it available in other areas as well.

Since X is having trouble making money from advertising, launching a payment service is seen as a possible source of income. The firm has just launched an antitrust action against advertising organizations for what it claims was a boycott that caused its platform to suffer large financial losses.

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