X App Code Hints at Upcoming Physical X Money Card
▼ Summary
– X is developing a physical debit card, as indicated by recent app updates referencing customization, activation, and management features.
– The X Money service will partner with Visa for peer-to-peer payments and instant bank transfers, with more announcements expected this year.
– X has expanded its U.S. money transmitter licenses to 40 states and Washington, D.C., supporting its payments venture.
– Code strings suggest additional features like cashback and deferred debit, along with potential partnerships with MasterCard and Amex.
– Elon Musk aims to transform X into an “everything app,” building on his history with PayPal and earlier plans for payments integration.
New evidence suggests X may soon launch a physical debit card as part of its expanding financial services strategy. Recent app code discoveries reveal detailed references to card management features, signaling a potential move beyond digital payments into tangible banking products.
App intelligence researchers uncovered multiple strings within X’s latest updates pointing to a customizable debit card linked to users’ X accounts. The code outlines functionality like activating cards, setting PINs, reporting lost or stolen items, and tracking shipments. Specific terms like “physicalcardoption” appear throughout, strongly indicating hardware development is underway.
This development follows X CEO Linda Yaccarino’s January confirmation of a partnership with Visa for the upcoming X Money service. The collaboration will enable instant funding of X Wallet accounts through Visa Direct, along with peer-to-peer transfers and bank account connectivity. Yaccarino described this as merely the first in a series of major financial announcements planned for 2024.
The company has been methodically laying groundwork for its payments expansion, securing money transmitter licenses in 40 U.S. states plus Washington D.C. since beginning the regulatory process over a year ago. These approvals position X to operate as a legitimate financial services provider across most of the country.
Deeper analysis of the app code reveals additional financial features potentially in development. References to cashback rewards and deferred debit options suggest X aims to compete with traditional banking perks. The system appears designed to allow separate management of virtual and physical cards, providing users with flexible payment options.
Notably, the code also mentions support for Mastercard and American Express, hinting at potential partnerships beyond the confirmed Visa collaboration. This aligns with X’s apparent strategy to build comprehensive financial infrastructure rather than limited payment functionality.
Elon Musk’s vision for X as an “everything app” has included financial services since his early days leading the platform. The Tesla CEO’s history with payments dates back to co-founding X.com, which evolved into PayPal after merging with Confinity. His 2017 reacquisition of the X.com domain and subsequent Twitter rebranding signaled long-term plans to integrate banking features.
While no official launch date has been announced beyond Yaccarino’s “later this year” timeline, the accumulating evidence paints a clear picture of X’s financial ambitions. The physical card development represents a significant step toward transforming the platform into a multifaceted service combining social networking with banking capabilities.
(Source: TechCrunch)
