X shifts US creator payouts to X Money with instant access to earnings

MUMBAI: X is putting a little more money where its creators are. X has begun routing all US creator payouts through its payments service, X Money, giving creators access to their earnings as soon as payments are sent.

The change, announced by X on Wednesday, applies to payouts from both its Original Content Rewards programme and creator subscriptions. It also marks a shift away from Stripe, which previously processed creator payments on the platform.

For US-based creators, the new system promises faster access to earnings. Under X’s previous arrangement, payments were generally processed every two weeks and creators needed to reach a minimum payout threshold of $30.

With X Money, those restrictions are being removed. Creators can access their money as soon as X sends the payout, without waiting for the end of a billing cycle or reaching a minimum threshold.

The change appears to be mandatory for creators in the US. X confirmed that the new payment arrangement is required for US creators, while creators outside the country will continue receiving payouts through Stripe.

That makes the move more than simply a faster payment option. It also gives X greater control over the financial infrastructure supporting its creator economy, as the company continues to build X Money into a broader part of the platform.

The payout switch comes as X prepares to overhaul its creator monetisation programmes.

On September 7, the company is set to retire its Creator Revenue Sharing Program, which stopped accepting new members last month. Creators are instead being moved towards the Original Content Rewards programme, which places greater emphasis on content created specifically by users rather than broader engagement-based activity.

X Money itself is also relatively new. The service began supporting creator payouts earlier this month and forms part of Elon Musk’s wider ambition to turn X into an “everything app”, combining social media with payments and other financial services.

The payments platform offers features including a bank card with 3 per cent cash back, instant payments and free ATM withdrawals, alongside other digital banking services.

Despite its financial features, X Money is not itself a bank. Customer accounts are held at Cross River Bank, an FDIC-insured US bank.

X is also tying creator earnings more closely to the wider X Money ecosystem. The company said creator payouts will count towards the direct deposit requirement that users need to meet to qualify for a higher annual percentage yield on their X Money accounts.

According to X Money’s current terms, X Premium users can qualify for a boosted 6 per cent rate, compared with the standard 4 per cent rate.

For creators, the immediate attraction is simple: getting paid faster. For X, however, moving creator payouts into X Money could be a much bigger step towards making its social network and financial services operate as one platform.