X is nearing the release date of its payment service

X is nearing the release date of its payment service.

X (formerly Twitter) appears to be making good strides toward fulfilling Elon Musk’s desire of turning it into “an application that does everything”.

Nima Owji of Nima Owji Development LLC recently discovered that Facebook is working on adding an “Payments” button to the navigation bar below Bookmarks. Owji made his discovery on Tuesday and informed TechCrunch of some references indicating these features will include transactions or balance transfers as well as transfer.

Musk first imagined when acquiring what had previously been Twitter in 2011 that this social media app could offer users the ability to save and store money within their X accounts, make payments directly and access potentially high-yield markets for cash investments.

Recent Findings

According to recent findings, Musk is expected to unveil plans for a payments service launch sometime between mid-2024 and late-2025 during his interview with Ark Invest CEO Cathie Wood for X Spaces earlier in December.

As part of its continued effort, X has also been working toward obtaining licenses that enable it to conduct money transmitter transactions within the US. Recently, its 100% controlled subsidiary owned by X, X Payments received authorization in North Dakota bringing their total states served up to 33 – Alabama, California and D.C had already given approval and other states such as Illinois Louisiana Nebraska New Mexico North Carolina Oregon South Carolina Tennessee Utah Virginia West Virginia among many more have also given approval X Payments can operate there

With advertising and payment services not yielding profits for X, their firm’s goal has been to find alternative means of earning revenue. They recently filed an antitrust suit against advertising firms involved with an advertising boycott which caused substantial money loss for them.

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Q&A

What is X nearing the release of?

X is nearing the release of its payment service.

What can users expect from X’s new service?

Users can expect a new platform for handling transactions.

Why is X launching a payment service?

To provide users with a convenient and secure way to manage payments.