Elon Musk’s X (formerly Twitter) is moving deeper into financial services with the development of X Money, a new payments system in partnership with Visa. This move could challenge established players like Venmo, Zelle, and PayPal, but how do X users actually feel about it?
In our latest mobile payments survey, we asked X users about their trust in X Money, how they might use it, and what features would compel them to switch. The results highlight both opportunities and challenges for Musk’s financial ambitions.
Key Findings:
- 67% of X users would trust X Money the same or more than existing providers like Venmo and Zelle.
- X Users would be most likely to use it for Peer to Peer payments, followed by Bill payments, E-Commerce transactions, and then business payments.
- The top two features that would compel X users to switch from their current payment app to X money are A) Faster Transfers and B) Lower Fees.
- 35.3% of X users said they would adopt X Money and would either reduce or stop using other platforms.
Further Reading:
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