X app code points to a physical card coming to X Money

Recent insights indicate that X is preparing to broaden its payment services beyond digital transactions. Findings from App Sensa, a mobile app intelligence firm, reveal that the X app has undergone several updates recently, incorporating references to a physical debit card that users can personalize with their X usernames. The app's code now includes various functionalities related to the new debit card, enabling users to check shipping statuses, activate their cards upon arrival, report lost or stolen cards, lock cards, and set personal identification numbers (PINs). Notably, multiple code strings feature terms like "physical_card_option" and simply "physical." This development follows a January announcement by X CEO Linda Yaccarino, disclosing a partnership with Visa as the first collaborator for the X Money service. This initiative aims to facilitate instant funding of user accounts through Visa Direct, enabling peer-to-peer (P2P) payments linked to users’ debit cards, along with immediate fund transfers to bank accounts. Yaccarino hinted that this would be just the beginning of significant updates regarding X Money. X is actively pursuing money transmitter licenses across the United States, having registered in 40 states and Washington, D.C. as of December 2023, indicating its serious intent to compete with other digital banking and payment platforms. The app’s code also suggests features related to cashback and deferred debit transactions, hinting at a robust framework for the payment card. Users may have the ability to independently cancel their virtual cards, separate from the physical ones, and the code indicates potential partnerships with major payment brands like MasterCard and American Express. Elon Musk, the owner of X, has long envisioned transforming the platform into more than just a social media site. His aspirations include creating an "everything app" that encompasses various services, including payments and banking. Plans for a Payments button in the navigation bar were also noted last year. Musk’s history with payment systems dates back to his co-founding of X.com, which eventually became PayPal. After reacquiring the X.com domain in 2017, he rebranded Twitter as X in the summer of 2023, following his acquisition of the platform. While specifics on the launch date of X Money remain under wraps, Yaccarino previously indicated that further announcements would come later this year, including potential investment and trading functionalities as part of the super app vision. X has not yet responded to requests for additional comments.