The platform X, associated with Elon Musk, has introduced X Money, its own financial services solution. This new service was made available on Monday, July 27th, exclusively for subscribers of the paid plans X Premium and Premium Plus, provided they are over 18 years old, and is restricted to the United States.
X Money operates as a digital wallet integrated directly into the social network's interface. By activating this financial feature, the user obtains a deposit account linked to their profile on the platform. This allows for the immediate sending, requesting, and receiving of funds from other registered accounts without imposing strict daily limits or charging fees, resembling dynamics like Pix.
The company announced that the balance held in the wallet can yield up to 6% per year. Furthermore, the service offers advantages such as salary advance and exemption from costs on international purchases. There is also a cashback program that returns 3% of the amount spent in qualified transactions using the debit function.
It is important to note that the granting of benefits follows a progressive scheme. Only subscribers at the highest level, Premium Plus, are automatically entitled to the maximum rate of 6% per year. Users with the standard Premium subscription can also achieve this profitability, but this depends on meeting certain deposit goals.
To encourage quick adoption of the tool, new users are receiving an initial bonus of $15 USD in balance, which is equivalent to approximately R$ 80 at the current exchange rate.
The payment structure includes a virtual debit card issued by the Visa brand. As reported by 9to5Mac, this X Card can be integrated with Apple Wallet to make contactless payments via Apple Pay, with this functionality expected to extend soon to Android devices.
For those who prefer a physical version, Elon Musk's company also allows the request of a metal card. A distinctive feature of this edition is the ability to customize the card by engraving the username (the X handle) on its front face.
The social network's foray into the banking sector raises discussions about regulation and security. X Payments LLC, the corporate entity responsible for managing the platform, does not hold an autonomous banking license. To meet legal requirements, the company established a collaboration with Cross River Bank.
As an official partner of the Federal Deposit Insurance Corporation (FDIC), deposits made in X Money are covered by federal protection against bankruptcy, functioning analogously to the Credit Guarantee Fund (FGC) in the Brazilian financial system.
X Money is part of Elon Musk's project to develop a 'super app,' following the Asian model of WeChat. The purpose of this project is to consolidate user attention and data, bringing together text communication, video streaming, artificial intelligence tools, and banking services in one place.
Currently, access to X Money banking services is limited to residents of the United States. No official timeline or expansion map has been disclosed by X, meaning there is no forecast for an official launch in Brazil. If expansion to new markets occurs, the process will be gradual, requiring adaptation to regulatory standards, such as LGPD in Brazil, in addition to evaluations, licensing, and approvals from competent authorities, including the Central Bank.
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Savério Demaria, a representative of TIM, stated that the company will cautiously approach the inclusion of artificial intelligence subscriptions in its telephony packages, aiming to avoid what he calls the 'unlimited WhatsApp error.'
Demaria emphasized that TIM does not want to replicate the unlimited WhatsApp model, as that previous offer complicated the operator's ability to generate revenue. Although the two largest competitors are already exploring formats with access to AI subscriptions, TIM has not yet announced plans with this integration.
TIM's caution comes after the operator reformed its Control plans, removing WhatsApp from items that do not use the main data allowance. Demaria commented that the application 'was a business that was here to stay and, unfortunately, we could not monetize that model,' as reported by the Telesíntese portal.
On another front, Thompson Gomes, TIM's head of marketing, presented the TIM Controle Fit plan. This new package focuses on providing a greater amount of internet without depending on unlimited social media. The TIM Controle Fit offers 30 GB for R$ 30 monthly (with annual commitment) or 20 GB for R$ 35 (monthly format), which is significantly cheaper than the TIM Controle Social Networks offer, which was the most affordable option among the main ones.
However, this new plan excludes the benefits of free access to WhatsApp, Instagram, and TikTok within the allowance. Official documentation confirmed by Tecnoblog indicates that these packages do not have traffic exemption for these platforms.
Additionally, during the presentation of second-quarter results, Alberto Griselli, TIM's CEO, addressed the corporate landscape. He guaranteed that the plan established for 2026 will be maintained, even if there is a possibility of Poste Italiane re-nationalizing the company. The Italian postal service presented a proposal of R$ 80 billion for the controlling stake of Telecom Italia, which owns the Brazilian operation. Despite this, Griselli stressed that strengthening the parent company could generate local advantages, mentioning that Poste considered the Brazilian subsidiary a 'gem.'
