Social network X, from billionaire Elon Musk AP Photo/Rick Rycroft Social network Initially, the new feature will only be available to subscribers of Premium and Premium+ plans in the United States. ??Do you have any reporting suggestions? Send it to g1 The launch marks another step in Musk's strategy of transforming X into a "superapp", concentrating different services on a single platform. In 2023, the businessman stated that, "if money is involved, it will be on our platform". ? According to information from the company, X Money will allow you to make instant transfers between users of the social network without charging fees, receive salary via direct deposit, withdraw money from ATMs, issue electronic checks and make bank transfers.
X Money: Elon Musk's social network launches payments service and digital account for subscribers in the USA
Social network X, from billionaire Elon Musk AP Photo/Rick Rycroft Social network Initially, the new feature will only be available to subscribers of Premium and Premium+ plans in the United States. ??Do you have any...
Os clientes também poderão adicionar o cartão virtual ao Apple Pay e a outras carteiras digitais compatíveis. According to the company, the account will yield up to 6% per year (APY) on the balance. Maximum yield will be automatic for Premium+ subscribers, while Premium users will need to meet requirements such as receiving qualified direct deposits. Additionally, the X card will offer 3% cashback on eligible purchases. The service also promises to anticipate the receipt of salaries by direct deposit by up to two days and reimburse fees charged by ATMs, including international withdrawals. Although X Money is not a bank, users' money will be deposited at Cross River Bank, an American institution participating in the US deposit guarantee system. Furthermore, the company states that the resources may have coverage of up to US$10 million (R$55.6 million), since the balance is automatically distributed among different participating banks, expanding the protection limit normally offered by a single institution. Availability Elon Musk wants to transform X into a "superapp", with financial services, messaging and content on a single platform. Reproduction/X To use X Money, you must be at least 18 years old, reside in the USA, have an active account on the platform and undergo identity verification. The company reported that the service is gradually being made available to Premium and Premium+ subscribers in the country and that it will notify users when the functionality is available on their accounts. So far, there is no plan for the service to be launched in other countries, including Brazil. X's digital payments system was first announced in March this year. Musk bought Twitter in 2022 for US$44 billion (around R$227 billion, at current prices) and renamed the platform as X. Since the acquisition, the billionaire has stated that he intends to transform the social network into a single service with features such as messaging, live broadcasts, videos, payments and other financial services.
Source: G1 Tecnologia
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