Quote:Elon Musk's plan to turn X, formerly known as Twitter, into an "everything" app is going to pick up speed in 2024. In a new post on the official X Business blog this week, the company revealed some of its plans for the year 2024. One of these features will be the launch of peer-to-peer payments on X.

Peer-to-peer payment services such as PayPal, Square's Cash App or Google Pay, allow users to transfer money using their electronic devices and accounts at the service. The majority supports money transfers between users and also making payments to purchase goods online or offline.

Musk's intention with X's transformation seems to be taking cues from WeChat, a China-exclusive app by Tencent that combines peer-to-peer payments with social media and instant messaging.

The announcement on X's blog acts as a teaser for things to come only. X writes: "We will launch peer-to-peer payments, unlocking more user utility and new opportunities for commerce, and showcasing the power of living more of your life in one place."

The main takeaway from the paragraph is that X will launch a service that is similar to established services functionality-wise. X users may use it to send money to other users and they also may use it to make payments online.
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