Elon Musk‘s X Money payments service may have gotten a major boost as a user shared a video of making a transaction using the service’s debit card.
On Thursday, user Josh Wood took to the social media platform X to share a video of him making a transaction at a chain gas station. “Recorded for posterity,” Wood said in the caption, showcasing the metal debit card touted by Musk. He then thanked the Tesla Inc. CEO, as well as actor William Shatner, for beta access to the platform.
The card, which appears to be made out of metal, featured Wood’s full name, as well as his official X handle, something that has been touted by Musk and Shatner in the past.
Recorded for posterity: the first ever @XMoney Buc-ee’s transactions. Yes, that’s the beautiful new X Money debit card. God bless America. 🇺🇸 (Thanks for beta access @WilliamShatner @elonmusk !) pic.twitter.com/hiBuXzdoCf
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Recently, Shatner shared details about the platform and announced the beta rollout of the service. X Money will offer 6% APY (annual percentage yield) on the account, as well as a $25 welcome gift to users of the platform. Shatner also shared that the debit card could be personalized with a user’s official X handle.
The platform is a step towards Musk’s everything app goals, as last year, the company had announced a partnership with Visa Inc. in a move touted by CEO Ryan McInerney that would enable “600 million or so active monthly users of X to fund their X Money accounts.”
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Meanwhile, Social Capital co-founder and entrepreneur Chamath Palihapitiya thinks that the users on the social media platform X could turn their identity on into “a crucial financial asset” due to the X Money platform, as other users touted it as a one-stop financial hub.
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Elsewhere, author Nassim Nicholas Taleb shared that the X Money payments service could be better than Bitcoin, adding that there must be competition within private currencies. However, it’s worth noting that Taleb has been a vocal critic of Bitcoin.
Trading platform Robinhood Markets Inc. also revealed its new Platinum card, available for an annual fee of $695, offering a range of benefits, including a $250 per year credit for autonomous rides, a $120 credit for the Transportation Security Administration’s (TSA) Global Entry and PreCheck programs and more.