X to roll out in-app payments feature soon? Here’s what we know

Allowing users to make payments would fit in with Elon Musk’s plans to make X into an app for everything.

X Payments is a subsidiary of the Elon Musk-owned social media company.

The ban on X comes on the back of a months-long feud between the platform’s owner Elon Musk and Justice Moreas. (Image: Reuters)

X might be rolling out its payments system on the platform sooner than we think. Recently, an app researcher shared a screenshot purportedly showing a new ‘Payments’ option below the Bookmarks button in the navigation bar of the app.

Under the new tab, the user reportedly found additional options related to transactions, balance, and transfer.

BREAKING: X Payments is coming soon! pic.twitter.com/8JBIHjHOls

— Nima Owji (@nima_owji) August 5, 2024

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X Payments, which is a subsidiary of the Elon Musk-owned social media company, has been granted money transmitter licences in 33 states in the US so far. These licences are required for companies looking to engage in money transfers in the country, according to a report by TechCrunch.

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Launching its own payment service would bring the platform closer to achieving Musk’s vision of making X into a super app. In fact, when the billionaire bought X (then-Twitter), he had reportedly discussed features to let users store money in their accounts on the platform while also being able to transfer money to other X users.

By reportedly speeding up the rollout of X’s payments feature, the company could be looking to create alternative sources of revenue due to recent challenges in monetising the platform through advertising. Recently, X sued advertising groups for boycotting the platform which led to the company facing significant financial losses.