"If users can't easily tell when a payment will be accepted, that uncertainty will likely create enough friction to make Musk's payments launch 'bumpy,'" Hawkins said.
Additional concerns include potential account restrictions.
Users risk losing access to funds if their accounts are locked due to suspicious activity or policy violations, with withdrawal freezes lasting up to 180 days, as outlined in X's FAQ.
Support for users facing issues is limited, with in-app chat recommended as the primary assistance channel despite the availability of a customer support phone line.
Musk envisions X Money as a key component of his plan to transform X into an "everything app," integrating social media, shopping, and banking within three to five years.
However, industry analysts caution that previous attempts by tech giants like Apple, Google, and Facebook to launch payment services have seen limited success.
Eric Grover, a principal at Intrepid Ventures, told Ars Technica that despite Musk's ambitions, achieving broad adoption of X Money will be challenging given the competitive landscape.
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The service also requires users to promptly report unauthorized transactions to avoid financial liability, even with Visa's Zero Liability Policy backing debit card purchases.
