Paying your rent, sending a message, and scrolling news updates could soon all happen in the same app. Elon Musk’s social media platform X has started testing a payment service that brings banking features directly into the platform.
The feature, called X Money, marks the latest step in Musk’s plan to build an all-in-one service for users.
The service is currently available in a limited beta, with Musk confirming its launch in a post on May 25. It allows users to send and receive peer-to-peer payments, store funds in a digital wallet, and connect bank accounts or debit cards. The functionality is being rolled out gradually as X seeks to expand its financial services offering.
X Money is operated by X Payments LLC, which has so far secured money transmitter licenses in 41 US states. A wider public launch is expected later in 2025, depending on regulatory approvals.
“When people’s savings are involved, extreme care must be taken,” Musk said on X, acknowledging the risks of handling user funds.
The new feature is part of Musk’s broader ambition to turn X into a “super app” similar to China’s WeChat, which combines social media, messaging, and payments. Since acquiring Twitter in 2022, Musk has rebranded the platform and moved it in a direction that goes beyond social networking. The introduction of payment capabilities is a key step in that transition.
A central part of the X Money rollout is its partnership with Visa. Through Visa Direct, users can transfer funds quickly and link their debit cards for real-time transactions. The collaboration provides X with an established financial infrastructure, reducing the barriers to entering the payments market. It also positions the platform as a potential competitor to services such as PayPal, Venmo, and Apple Pay.
Despite Musk’s past interest in cryptocurrencies, including his public support for Dogecoin, X Money does not currently support digital assets. The company has not ruled out adding crypto functionality in the future but has said that its initial focus is on traditional payment systems.
The introduction of financial features may also help X diversify its revenue. The platform has faced pressure to reduce reliance on advertising, especially following changes to its content moderation policies and advertiser relationships. A move into digital payments could create new business opportunities and increase user engagement within the app.
Not Musk’s first payment roadshow
Musk’s interest in financial technology dates back to 1999, when he co-founded X.com, an online bank that later became part of PayPal. The reintroduction of the “X” branding in a financial context highlights a return to those early ambitions, now merged with his control over one of the world’s largest social media platforms.
For now, X Money remains in testing, but its launch signals a shift in how users may interact with the platform. If successful, it could mark the beginning of a broader integration of finance and social media under a single digital brand.
