Musk's X plans to launch its own debit/credit card
What's the story
X is gearing up to offer investment and trading services. The move comes as part of efforts to realize Elon Musk's vision for an "everything app."
In a recent interview with the Financial Times, CEO Linda Yaccarino revealed that X is looking into launching its own credit or debit card.
App evolution
Musk's vision for an 'everything app'
Musk, who acquired Twitter in April 2022 for $44 billion and later rebranded it as X, has long envisioned the platform as a "super app."
The term refers to an all-in-one mobile application that provides a range of services such as messaging, social networking, payments, and e-commerce shopping. This concept is similar to China's WeChat.
Future features
Exciting features coming to X
In December last year, Yaccarino teased some exciting features coming to X. She wrote, "2025 X will connect you in ways never thought possible. X TV, X Money, Grok, and more."
Earlier this year, payments giant Visa partnered with X to provide direct payment solutions for users of the social media app.
Client comeback
Yaccarino brought back 96% of ad clients
Yaccarino joined X as CEO in 2023, amid an advertiser exodus over concerns of their ads appearing next to inappropriate content.
However, she has managed to bring back 96% of X's ad clients from before the acquisition.
According to research firm Emarketer data from March, the company is on track for its first year of ad revenue growth since Musk's acquisition.