X Poised to Launch Payment Services Under Elon Musk’s Vision for a Super App

Recent indications suggest that the platform X, formerly known as Twitter, may soon launch its own payments service. An independent app researcher has made this assertion on social media. Since Elon Musk's acquisition of the platform, it has experienced numerous transformations, including changes to its branding, removal of conventional verification processes, and the introduction of the AI chatbot Grok. Musk has expressed his desire to evolve the platform into an all-encompassing application, capable of providing a range of services like payments, shopping, and job searches in addition to its core microblogging functions. This latest speculation indicates that X is making progress toward fulfilling Musk's ambitious vision.

The discovery of the payments feature was made by Nima Owji, an independent researcher known for revealing unreleased functionalities on X. In a recent post, Owji mentioned that X might enable users to access payment options through a new Payments feature. A shared screenshot implies that this feature could be located on the left navigation panel, just beneath the Bookmarks section. During a discussion with TechCrunch, the researcher pointed out that it includes mentions of functionalities related to transactions, balance inquiries, and transfers.

This development is in line with Musk's earlier plans for the platform, which he discussed with Ark Invest CEO Cathie Wood back in December. At that time, Musk suggested that the launch of payment services could take place around the middle of 2024. In a blog published on January 9, X confirmed that facilitating peer-to-peer payments would be a key objective for the platform in 2024. According to the company, introducing payment services could create new commercial opportunities and enhance user engagement.

In support of this strategic direction, X Payments, a subsidiary of the platform, has successfully secured money transmitter licenses across 33 U.S. states, including recent approvals in Alabama, the District of Columbia, and California. If realized, this venture could position X as a serious competitor to PayPal, the prominent payment service that formed through the merger of Musk's X.com and Confinity back in 2000.