The X social network is apparently on the verge of launching its payment system

X is working on a “Payments” button, which will be added to the navigation bar under the bookmarks tab.

In recent years, X has been trying to realize Elon Musk’s big plan to become the “everything application” by developing a payment system. Now, new developments in this field have been observed, which show that X is approaching Elon Musk’s vision.

According to application researcher Nima Oji, X is working on a Payments button that will be added to the navigation bar under the bookmarks tab. Oji also told TechCrunch that it has also found hints of payment features, such as transactions, balances and transfers.

The upcoming launch of X payment service

When Elon Musk bought the former social network Twitter, he envisioned developing a platform where users could store their money in their X accounts, make payments to other users, and potentially access high-yield paid accounts.

According to what Oji has discovered, it can be said that the X payment service will be launched soon; As Musk had planned for the middle of 2024.

In addition, the company is also in the process of obtaining money transfer licenses that allow it to operate in the money transfer business in the United States. Last week, X Payments (an X-owned subsidiary) received a financial license in North Dakota, bringing its total number of licenses to 33.

While X has faced challenges with ad monetization and sued ad boycotters today, launching a paid service could be an alternative to monetization.