Users can send $1 tip for liking X posts:Musk announces ‘X Money’ tipping feature in the US; know how it works

Elon Musk has announced a new feature for the social media platform X. Under this feature, users will be able to long-press the Like button to send any user or creator a $1 tip. The transaction will be completed through X’s payment platform, ‘X Money’. The feature will initially be available only to X users in the US. Musk shared the information in a post on X. He wrote in the post, “We are adding the option to long-press the Like button to send anyone $1 through X Money.” How will the $1 tipping system work? In this new system, users will only need to long-press the Like button to send money to a post’s creator. After this, $1 will be transferred directly from the user’s account through X Money’s payment infrastructure. This feature gives users an easy way to support creators directly without going through a separate payment process. However, X has not yet disclosed the rollout date or the eligibility criteria. The company has also not clarified whether the default $1 amount can be changed or whether additional payment options will be available in the future. What is X Money and what are its features? X Money was launched in the US in July. The service enables users to make peer-to-peer (P2P), or person-to-person, money transfers, open deposit accounts and use X-branded Visa debit cards. The service operates entirely on Cross River Bank’s banking infrastructure. This means X Money is not a bank itself, but a financial services platform. The debit card provided through the service can also be connected to Apple Pay. Users also receive benefits such as interest on eligible deposits and cashback on purchases. Musk wants to make X an ‘everything app’ Elon Musk has long wanted to turn X into more than just a social networking site – an ‘everything app’ where messaging, social media and financial services can come together. The $1 tipping feature on X Money is part of that strategy. If implemented on a large scale, it would provide creators with a direct financial benefit. When will X Money launch in India? X has not yet announced any official date for launching X Money in India or making the $1 tipping feature available to Indian users. India already has a strong UPI-based digital payments ecosystem. If X Money comes to India, it will therefore have to comply with the country’s regulations. For now, the feature is focused only on the US market. What is an ‘everything app’? An “everything app” or “super app” is a digital platform where a range of services-including social media, messaging, digital wallets, shopping, cab bookings and banking-are available together in a single application. China’s WeChat is the biggest example of this. Elon Musk wants to turn X into the world’s biggest super app along the same lines.