X launches payment feature in the US
X, formerly Twitter, has launched its X Money payment service in the United States. The service is initially available to Premium and Premium+ subscribers.
X, the social media platform formerly known as Twitter, has launched its X Money payment service in the United States. The feature, which has been subject to delays, is currently available to users subscribed to X's Premium and Premium+ tiers.
The X Money service aims to facilitate fund transfers and integrate payments directly into the X platform. Early adopters can set up automatic paycheck deposits to X and are offered features such as cashback rewards and a stated six percent annual yield on funds held within the service.
However, the initial rollout of X Money includes certain limitations. At present, peer-to-peer payments can only be made to other X users who also have access to X Money and are aged 18 or older. The broader accessibility and full functionality of the payment service are expected to develop over time. X has positioned the launch of X Money as part of a larger strategy to transform the platform into a comprehensive "everything app" that extends beyond social networking to encompass financial services.