Elon Musk finally launches X Money. What could possibly go wrong?
Summary
Elon Musk has launched X Money, a new payment feature available only to certain X app subscribers in the US. The service currently has important limits, such as only allowing transfers between users aged 18 and older, and not supporting payments in big markets like New York and Massachusetts, which may slow its growth.Key Facts
- X Money launched recently for US Premium and Premium+ X app subscribers.
- Users can transfer money only to other X Money users who are at least 18 years old.
- The X Card cannot be used everywhere because X lacks money transmitter licenses in New York and Massachusetts.
- Experts say limited payment acceptance could reduce user trust and slow adoption.
- X Money users may lose access if the platform goes down or if account activity triggers restrictions.
- Withdrawals can be frozen for up to 180 days under certain X policies.
- Customer support mainly relies on in-app chat; phone support is limited.
- Elon Musk aims to build X into an “everything app” combining social media, shopping, and banking within 3 to 5 years.
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