US Edition3% Cash Back, 6% Interest, P2P Transfers—What All Elon Musk’s X Money Is Reportedly Offering - Visa (NYSE
Early users report 3% cash back and a 6% savings rate as Musk pushes X Money toward a public debut.
- Elon Musk's company is nearing the public launch of Money, a financial services tool pledged to debut this month as part of his "everything app" vision for the platform.
- Musk promised this vision more than two years ago, yet regulatory delays have hindered progress; operating a payments platform requires licenses from all 50 states, and the company currently holds approvals in 44 states.
- Early testers report "competitive perks," including 3% cash back on purchases and 6% interest on savings, alongside an X-branded metal debit card, free peer-to-peer transfers, and an "AI concierge."
- Massachusetts Senator Elizabeth Warren recently questioned the company's consumer protection plans, citing safety concerns, while creators on the platform will be switched from Stripe to Money for payment processing.
- Richard Crone, founder of Crone Consulting LLC, remains skeptical, noting the super-app model has yet to succeed in the American market amid a history of missed deadlines.
20 Articles
20 Articles
Musk Nears 'X Money' Super App Launch
Musk Nears ‘X Money’ Super App Launch
Bloomberg reported on the 26th (local time) that X, a social media platform operated by Tesla CEO Elon Musk, is scheduled to launch a new financial service this month. This is interpreted as an attempt to develop X into an "all-in-one app" that encompasses various functions ranging from social media to payments and artificial intelligence (AI).
More than three years after acquiring Twitter, Elon Musk claims that he is close to reaching his long-standing goal of turning it into a “application for everything,” with a new financial services tool that he pledged to launch to the public this month. X Money, the social network-integrated banking and payment platform now known as X, is expected to make its public debut imminently, according to the deadline offered by Musk last month. Early us…
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