Elon Musk is reportedly working fast to implement a payments button on social network X with the purpose of turning it into a multifunctional platform.

The idea isn’t new; it’s been mentioned by Musk since buying the platform when it was still called Twitter, and has been held up as a strategy to achieve an app for everything.

With this button, X would move to allow payments, transactions and transfers as a way to “diversify X’s functionalities and offer users the ability to make financial transactions directly from the app.”

The payments button would be integrated into the navigation bar of the app, under the bookmarks tab. Applications researcher Nima Owji found “references to new payment features, including transactions, balance and transfer, so it is presumed that users of the network will soon be able to store money in their accounts, send payments to other users, and gain access to high-yielding money market accounts.”

Of course, in order to achieve its purpose of launching a payment system on X Musk will need to obtain the necessary licenses. In this regard, it is worth mentioning that “X Payments, a subsidiary of X, has already managed to obtain these licenses in 33 U.S. states.”

The desire to monetize the platform has dragged on for years and made the company look for ways to generate revenue. Including a payment button on the platform would mean a definitive change in the way users interact.

M.Pino

Source: zonamovilidad

(Reference image source: Julian Christ in Unsplash)

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La entrada Musk is preparing a payment button on his social network X apareció primero en Bitfinance.