Will X become a peer-to-peer payment company?

The social media platform X plans to get into the peer-to-peer payment business. The company made the announcement in a blog post Tuesday, saying the service will allow “more user utility and new opportunities for commerce, and showcasing the power of living more of your life in one place.”

Will peer-to-peer payments offer 'new opportunities for commerce'?

Its forthcoming peer-to-peer payments feature will offer "new opportunities for commerce", X said, without disclosing further details. In October 2022, billionaire businessman Elon Musk completed his $44 billion acquisition of Twitter. AFP

Will Elon Musk create a 'peer-to-peer' payment service?

You'll be asked to sign into your Forbes account. X, the social media site formerly known as Twitter, announced it would begin rolling out a peer-to-peer payment service similar to Venmo or PayPal this year—a feature the social media site’s billionaire owner Elon Musk has long pushed as part of his plan to develop an “everything app.”