Elon Musk's X Plans Major Shift to Include Payments Platform

Documents reveal X aims to boost engagement with Venmo-like features as revenues drop nearly 40% under Musk's leadership.

X's new payment service will allow users to store, send, and spend money directly on the platform.
The company has lost $456 million in the first quarter of 2023, with revenues down significantly from the previous year.
X Payments is licensed in 28 states and seeks full nationwide approval to launch later this year.
Plans for international expansion have been paused due to regulatory pushback.
Musk envisions X becoming a comprehensive financial platform, though it faces significant competition and consumer trust issues.