Latest news with #AppSensa
Indian Express
9 hours ago
- Business
- Indian Express
Elon Musk's X working on physical debit card as part of new ‘X Money' venture: Report
Following its rebranding, most people now associate 'X' with the Elon Musk-owned social media platform. However, as per findings from AppSensa (a mobile app intelligence firm), the X app has been updated with new code strings, referencing a physical debit card, customisable with X usernames. This comes as part of an upcoming venture called X Money. Some code strings have the words 'physical_card_option', indicating both a potential physical card, as well as it being an option, according to a report by TechCrunch. This is a notable development for X Money, after CEO Linda Yaccarino announced in January this year that it is partnering with Visa to enable secure, instant funding to the user's X Wallet via Visa Direct, alongside enabling peer-to-peer (P2P) payments. Yaccarino had hinted at bigger announcements about X Money throughout the year. In order to support the venture, X (as X Payments LLC) has taken money transmitter licences in 32 US states till date, as per NMLS Consumer Access. It has also increased its registrations to 41 US states as well. Other code uncovered by Appsensa indicates potential cashbacks, deferred debit, theft indication, and cancellation of either the user's virtual or physical card. Based on the code, it seems that the virtual and physical cards are independent of each other. Another noteworthy aspect is the potential links to other brands. While Visa is the only brand currently confirmed to be working with X, the code indicates links to Mastercard and Amex as payment card brands supported by the platform. This development also shows progress in X owner Elon Musk's plan in November 2022 to make it into an 'everything app', and hinted at the addition of payments and banking within the app. Since Musk's 2022 takeover, the platform is said to have alienated many users and advertisers over reports of rising hate speech and misinformation. In 2024, app researcher Nima Owji spotting the addition of a 'Payments' button in the in-app navigation bar. In a recent Financial Times interview, Yaccarino said that X Money would be offering investments and trading within the app. However, with the last official reference to the release date being Yaccarino's post on January 28 announcing the partnership with Visa, it is still unclear when X Money will be officially launched. Other social media giants, such as Facebook parent Meta, have added shopping, games and even dating features. Consumers now have different platforms at their disposal for communications, payment services, entertainment and more. (This article has been curated by Purv Ashar, who is an intern with The Indian Express)
Yahoo
4 days ago
- Business
- Yahoo
X app code points to a physical card coming to X Money
X's plans for a payments service may extend beyond the digital realm, new data suggests. According to findings from mobile app intelligence firm App Sensa, the X app has been updated over the past few weeks with several references related to a physical debit card, which can be customized with your X username. Dozens of new strings of code in the X app reference various actions you can take with the new debit card, including checking its shipping status, activating your card after it arrives, reporting your card lost or stolen, locking the card, setting a PIN, and more. Multiple strings also include the terms 'physical_card_option' as well as just 'physical,' the data indicates. The news follows X CEO Linda Yaccarino's January announcement that Visa would be the company's first partner for the X Money service, which will allow users to instantly fund their X Wallet accounts via Visa Direct. She explained that the new service would enable peer-to-peer (P2P) payments by connecting with users' debit cards and would offer the option to instantly transfer funds to your bank account. Yaccarino also noted that this would be the 'first of many' big announcements about X Money arriving this year. This suggests that X is on a path that will see it more broadly competing with other digital banks and payment services in the near future. To support its venture into payments, X has been registering for money transmitter licenses across the U.S. for over a year. As of December 2023, the company was licensed for payment processing in a dozen states. It has since increased its registrations to include 40 states, plus Washington, D.C. There are other references in the X app's code that tell us more about how this new payment card may work. For instance, some strings refer to 'cashback' and others to 'deferred debit.' It also appears you may be able to cancel your virtual card independently of the physical card and vice versa. Plus, the code suggests X could be pursuing relationships with other partners, as both MasterCard and Amex are listed as supported payment card brands. X owner Elon Musk has long envisioned the app formerly known as Twitter as more than a social network. In November 2022, he shared his plans to turn X into an 'everything app' that would include things like payments and banking, as well as better support for videos and creator content. Last year, X was spotted working on the addition of a Payments button that would be added to the site's main navigation bar. X has not shared when specifically it plans to announce X Money besides sometime 'later this year,' per Yaccarino's earlier post. X did not respond to a request for comment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
4 days ago
- Business
- TechCrunch
X app code points to a physical card coming to X Money
X's plans for a payments service may extend beyond the digital realm, new data suggests. According to findings from mobile app intelligence firm App Sensa, the X app has been updated over the past few weeks with several references related to a physical debit card, which can be customized with your X username. Dozens of new strings of code in the X app reference various actions you can take with the new debit card, including checking its shipping status, activating your card after it arrives, reporting your card lost or stolen, locking the card, setting a PIN, and more. Multiple strings also include the terms 'physical_card_option' as well as just 'physical,' the data indicates. Image Credits:App Sensa The news follows X CEO Linda Yaccarino's January announcement that Visa would be the company's first partner for the X Money service, which will allow users to instantly fund their X Wallet accounts via Visa Direct. She explained that the new service would enable peer-to-peer (P2P) payments by connecting with users' debit cards and would offer the option to instantly transfer funds to your bank account. Yaccarino also noted that this would be the 'first of many' big announcements about X Money arriving this year. This suggests that X is on a path that will see it more broadly competing with other digital banks and payment services in the near future. Image Credits:App Sensa To support its venture into payments, X has been registering for money transmitter licenses across the U.S. for over a year. As of December 2023, the company was licensed for payment processing in a dozen states. It has since increased its registrations to include 40 states, plus Washington, D.C. There are other references in the X app's code that tell us more about how this new payment card may work. For instance, some strings refer to 'cashback' and others to 'deferred debit.' It also appears you may be able to cancel your virtual card independently of the physical card and vice versa. Techcrunch event Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW Plus, the code suggests X could be pursuing relationships with other partners, as both MasterCard and Amex are listed as supported payment card brands. Image Credits:App Sensa X owner Elon Musk has long envisioned the app formerly known as Twitter as more than a social network. In November 2022, he shared his plans to turn X into an 'everything app' that would include things like payments and banking, as well as better support for videos and creator content. Last year, X was spotted working on the addition of a Payments button that would be added to the site's main navigation bar. X has not shared when specifically it plans to announce X Money besides sometime 'later this year,' per Yaccarino's earlier post. X did not respond to a request for comment.
