X Money starts US rollout

Elon Musk’s X (formerly Twitter) has launched 'X Money' for its US Premium subscribers. This marks the first major step in transitioning the social media platform into a 'payment-first' ecosystem. For retailers and operators, this signals a massive shift in how customers might shop and pay online in the near future. The rollout enables peer-to-peer payments and money transfers directly through the app. While it is currently limited to paid subscribers, the roadmap points toward integrated merchant services and point-of-sale capabilities. You should watch this closely because X plans to bypass traditional banking fees by utilizing its own payment rails. If your business relies on social media for customer acquisition, you may soon be able to close sales and process payments without the customer ever leaving the app. This reduces friction and could potentially lower your merchant processing costs compared to traditional credit card networks. The goal is to turn X into an 'everything app' similar to WeChat in China, where shopping and financing are embedded into the social feed. While still in its infancy, the infrastructure is being built to challenge established digital wallets like Apple Pay and PayPal.

Source: Finextra — Lending

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