X Accelerates Rollout Of Payments Feature, Adding Financial Services To Its Platform

X may be advancing its payments system rollout sooner than anticipated. Recently, a screenshot surfaced from an app researcher, showing a newly added ‘Payments’ option beneath the Bookmarks button in the app’s navigation bar.

Within this new section, users reportedly discovered additional features related to transactions, account balance, and money transfers .

X Payments , a division of the social media giant owned by Elon Musk , has secured money transmitter licenses in 33 US states so far. These licenses are crucial for companies wishing to facilitate money transfers across the country, according to TechCrunch.

The introduction of a payment service aligns with Musk’s ambition to transform X into a comprehensive super app . Upon acquiring X (formerly Twitter), Musk had hinted at features allowing users to store and transfer money within the platform.

The accelerated introduction of X’s payments feature might be a strategic move to diversify revenue streams, especially in light of recent difficulties in generating income through advertising. X has recently taken legal action against advertising firms for boycotting the platform, contributing to significant financial setbacks.