Social network X is reportedly nearing the addition of a payments button as part of Elon Musk’s vision to transform the platform into an “everything app” where users can manage their complete financial activities.
According to a report from TechCrunch, app researcher Nima Owji has discovered a “Payments” button located in the navigation bar under the bookmarks tab on X. Owji has also found references to new payment features, including “transactions, balance, and transfer.”
This initiative comes as X faces challenges in generating advertising revenue since Musk acquired the company, which was previously known as Twitter. Recently, the platform filed an antitrust lawsuit against advertising groups due to a “boycott.”
In a significant development, X Payments was granted a money transmitter license in its 33rd state, North Dakota, just last week.
Musk’s ambitions for the platform go far beyond just payment functionality. During an all-hands meeting with employees in October 2023, he stated, “When I say payments, I actually mean someone’s entire financial life. If it involves money, it’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”
He expressed confidence in the project, saying, “It would blow my mind if we don’t have that rolled out by the end of next year.”