In a transformative move, X, formerly known as Twitter, is set to roll out peer-to-peer payments within the platform this year. The company envisions this addition as a significant enhancement to user experience, offering more utility to its users, fostering new commerce opportunities, and exemplifying the concept of consolidating various life experiences within a single interface.
In a blog post on Tuesday, January 9, X expressed its vision of evolving beyond a conventional app, aiming to become an all-encompassing platform that seamlessly integrates diverse user experiences. The move into peer-to-peer payments follows the company’s strategic groundwork across the United States, where it obtained three new money transmitter licenses in November, expanding its coverage to states such as Kansas, South Dakota, and Wyoming.
X owner Elon Musk has previously indicated his ambition for the platform to evolve into a comprehensive payments super app, envisioning a role beyond mere transactional activities to encompass an individual’s financial life. Musk’s vision aligns with the broader trend of social media platforms diversifying into multifunctional hubs.
Apart from the payments feature, X is set to enhance its user experience through innovations such as the See Similar Posts feature and the introduction of See Dissimilar Posts. The latter will leverage users’ past activities to curate content that aligns with their interests or challenges their perspectives to improve the quality and balance of information received.
X’s plans for 2024 extend beyond payments and content curation, encompassing investments in creators, content partnerships, and strengthening its advertising capabilities. The platform aims to revolutionize user and advertising experiences by integrating artificial intelligence (AI) throughout its functionalities. AI will be key in refining search functionalities, enhancing ad delivery, and overall elevating the platform’s user interface.