X shifts US creator payouts from Stripe to X Money
X says U.S. creator payouts will now be handled through its X Money payments service, a change that appears to replace the previous Stripe-powered payout system.
X's move to handle creator payouts through its own X Money payments service marks a significant step in the platform's evolution, showcasing its growing capabilities in financial transactions. By bringing payout processing in-house, X can potentially reduce its reliance on third-party services like Stripe, allowing for more control over the payment experience and possibly lower transaction fees. This shift could also enable X to gather more data on transactions, providing valuable insights for improving its services.
This change is particularly noteworthy in the context of the app and social media industry, where platforms are increasingly looking to integrate financial services to enhance user engagement and revenue streams. By developing its own payment capabilities, X is positioning itself to compete more directly with other social media platforms that have already incorporated financial features, such as Meta's Facebook and Instagram, which have been exploring payment services for years.
As X continues to develop its X Money service, it's worth watching how this impacts the creator economy and the platform's relationships with its users. Key areas to monitor include the user experience of the new payout system, any changes to payout structures or fees, and how X Money might be integrated with other features on the platform. Additionally, observing how creators adapt to this change and whether it leads to increased engagement or revenue on the platform will provide valuable insights into the effectiveness of X's strategy.
Originally reported by techcrunch.com. AppNewsletter adds analysis for ai & agent economy readers.