Tech Desk 
Aug 07, 2024
An undated image of the logos of X (formerly known as Twitter). — Freepik
The rebranded social media giant, X, formerly recognised as Twitter, seems to be potentially progressing on its upcoming payments system, bringing it closer to Elon Musk’s vision of enabling X into an "everything app."
According to an app researcher Nima Owji, X (formerly known as Twitter) is working on integrating a "Payments" button into the navigation bar under the bookmarks tab. Owji found references for new payment features, such as ‘transactions, balance, and transfer.’
The launch of a payment service is expected soon, which is in line with Musk’s earlier goal of mid-2024.
In addition, X has been making progress on gathering money transmitter licenses, letting it engage in money transfers in the US Last week, X Payments (a wholly owned subsidiary of X) was granted a license in North Dakota, including the total number of states to 33.
Read more: X appears delisted from Mac App Store, but working fine on Macs
Earlier in July, it was approved in Alabama, California, and the District of Columbia. Others include Illinois, Louisiana, Nebraska, New Mexico, North Carolina, Ohio, Oregon, South Carolina, Tennessee, Utah, Virginia, West Virginia, and more.
However, X is facing challenges in monetising through advertising, and the payment service is the company’s attempt at an alternative source of revenue.
X (formerly Twitter) filed an antitrust lawsuit on August 6, against advertising groups over an advertiser boycott that resulted in major financial losses for X.
