Elon Musk announces $1 tipping feature for X Money; here's how it works

Elon Musk on Sunday said that X will add a new feature that will allow users to send $1 to another person by long-pressing the Like button on a post. The feature will be part of X Money, the social media platform's payments service that was unveiled earlier this year.

Musk announced the feature in a post on X.

The feature is part of Musk's larger plan of turning X into an "everything app" that brings social media, messaging and financial services together on one platform, just like China's Tencent-developed WeChat. Musk had publicly talked about this plan after buying X (formerly Twitter) in 2022.

How will the feature work?

When users press and hold the Like button, they will be able to tip a creator or another user whose posts they appreciate and want to support. The transaction would be processed via X Money. The feature will make it easier for users to send small payments to other users without leaving the platform.

However, X has not shared further details about the feature and when it will be rolled out. There is no confirmation on whether users will be able to change the payment amount beyond $1.

What is X Money?

X Money is X's payments service that was launched in the United States in July this year for X Premium and Premium+ subscribers. It allows users to transfer money to one another through the platform. It is a financial technology provider and doesn't act as a bank itself.

Apart from peer-to-peer transfers, the service also offers X-branded Visa debit card. Users can use the card for purchases and ATM withdrawals.

Will X Money launch in India?

X has not announced an official launch date for X Money in India. The service is currently focused on the US market only.

India already has a widely used digital payments system called the Unified Payments Interface (UPI), which allows users to transfer money between bank accounts through supported apps.