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X, formerly Twitter, to Launch P2P Payment in 2024

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Elon Musk’s X, the social media platform formerly known as Twitter, is gearing up for a major feature that could reshape its user experience and propel it closer to its “everything app” ambitions.

In a recent announcement, X revealed plans to launch peer-to-peer (P2P) payments within the platform this year, allowing you to seamlessly send and receive money from users.

This move aligns with Musk’s long-held vision of transforming X into a one-stop shop for online interactions, encompassing not just social sharing but also e-commerce, messaging, and now, financial transactions.

The P2P feature, similar to established services like Venmo and PayPal, aims to enhance user convenience and foster new avenues for commerce within the X ecosystem.

“This is about unlocking more utility for our users and creating exciting new opportunities for commerce,” stated an X spokesperson in the official announcement. “By integrating P2P payments, we’re showcasing the power of living more of your life in one place.”

The specific details of the P2P functionality, including launch timelines and supported currencies, remain under wraps.

However, analysts speculate that X’s existing infrastructure, coupled with its sizeable user base, could position it to become a significant player in the online payments landscape.

The introduction of P2P payments also raises questions about data privacy and security. X will need to address concerns about user financial information and implement robust security measures to ensure trust and adoption.

Regardless of the challenges, X’s foray into P2P payments marks a significant step towards its ambitious vision.

Whether it successfully carves out a niche in the competitive financial technology space remains to be seen, but one thing is certain: X’s evolution into an “everything app” is just getting started.

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