X to Add Peer-to-Peer Payments in 2024, Aims to Be ‘Everything App’

X, the social media platform formerly known as Twitter, plans to launch peer-to-peer payments this year. 

Doing so will add more user utility to the app, create new opportunities for commerce and showcase “the power of living more of your life in one place,” the company said in a Tuesday (Jan. 9) blog post. 

“X is not just another app — it’s becoming the everything app, seamlessly uniting experiences into one interface, for everyone,” the company said in the post. 

The company has been laying the groundwork state by state to move further into money movement, gaining three new money transmitter licenses in the United States at the end of November, PYMNTS reported on Dec. 11. 

The addition of Kansas, South Dakota and Wyoming to its roster brought to a dozen the number of states in which X has money transmission permission. 

PYMNTS reported in October that X owner Elon Musk said expects the company to transform into a payments super app. 

“When I say payments, I actually mean someone’s entire financial life,” Musk said, per a report by The Verge. 

X will also enhance its See Similar Posts feature, and add a See Dissimilar Posts feature that will leverage users’ past activity to present them with content that aligns with their interests or challenges their perspectives, “improving the quality and balance of information they receive,” the post said. 

X will also continue to invest in creators and content partnerships, strengthen its full-funnel ads offering, and continue to add brand safety capabilities and verification, per the post. 

“X is set to revolutionize 2024 with groundbreaking products and services that will reshape how we connect, communicate and transact,” the company said in the post. 

Together with payments, X’s plans for 2024 also include increasingly powering its user and advertising experience with artificial intelligence (AI), according to the Tuesday blog post. It will use the technology to enhance search and improve ads. 

In June, Musk created xAI, an AI company, to compete with other generative AI companies, such as OpenAI, where he was a co-founder.