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New information regarding the upcoming payment system of X (formerly Twitter) has emerged. As per the developers’ intentions, it will encompass a comprehensive array of financial functionalities essential for users, eliminating the need to withdraw funds from the system.
Christopher Stanley, Chief Information Security Officer at X Payments, provided insights into the future payment system of X.
The developers aim to integrate the capabilities of a digital wallet and a bank account, addressing all financial requirements of users. Specifically, the X Payments system will facilitate:
- the storage of funds and the ability to transfer them to other users;
- making payments for online purchases as well as in physical stores;
- depositing money akin to traditional bank deposits, with the potential to earn interest on those deposits.
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The team intends to establish a comprehensive financial ecosystem where users will not need to withdraw money or rely on additional applications.
“If you ever have any incentive to take money out of our system, then we have failed,” stated Christopher Stanley.
The Nationwide Multi-State Licensing System and Registry (NMLS) indicates that X Payments LLC has already secured financial transaction licenses in 25 out of the 50 U.S. states. There are speculations that the X Payments system could be launched in mid-2024.
Earlier in 2023, it was reported that the future financial system of Twitter was initially being designed with the potential for cryptocurrency integration as a payment method. However, no further updates on this topic have surfaced since then, apart from April Fools’ jokes.
Сообщение X Payments Users Will Never Have to Withdraw Money появились сначала на CoinsPaid Media.
