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Visa (V) and Elon Musk's X announced a partnership on Tuesday to facilitate peer-to-peer payments fo
X is teaming up with Visa to soon offer a system for real-time payments on the social media platform — signaling some progress in a yearslong vision from billionaire owner Elon Musk to create an “everything app.” Visa is the first partner for the platform's “X Money Account" service, which is set to launch later this year, X CEO Linda Yaccarino said in a Tuesday post announcing the news. According to Visa, which also posted about the partnership on X Tuesday, these services will be powered by Visa Direct — the payment giant's instant money transferring service — and will be available to X Money Account users in the U.S.
X CEO Linda Yaccarino said that Visa will be the first partner of the financial services platform X Money, expected to be launched later this year.
The social media platform X announced on Tuesday it was stepping into the financial ecosystem with the help of Visa by launching its own digital wallet.
X will introduce payments app called X Money later this year with Visa as partner, CEO Linda Yaccarino announced.
X Users Will Be Able to Transfer Funds, Pay Each Other
X teams up with Visa on digital wallet and peer-to-peer payments. Here's all that we know about the X Money Account so far.
Visa Inc (NYSE:V) is set to become the first partner of social media platform X's Money account as the Elon Musk-owned company makes a push into payments. Visa shares were trading slightly higher at last check.
Elon Musk is getting one step closer to making his X the “everything app” — by getting into personal finance.
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Elon Musk-owned social network X announced a partnership with Visa to handle person-to-person payment for its upcoming X Money product. The company will
Payments giant Visa and Elon Musk's X are partnering to offer direct payment solutions to customers of the social media app, a person familiar with the matter told Reuters on Tuesday. The deal comes as the billionaire continues his efforts to transform the X platform into an "everything app", aiming to offer a wide range of services, including messaging, social networking and payments. Visa will be the first partner of the X Money account, under which customers can instantly fund their X wallet and connect their debit cards for peer-to-peer payments, the source said.
Elon Musk struck a deal with Visa Inc., naming the payments company the first major partner on his mission to turn X into an “everything app.”
Visa will enable X users to move funds between traditional bank accounts and their digital wallet and make instant peer-to-peer payments, like Zelle or Venmo.
The US card giants are pushing back on the central bank’s objective of making their charges more transparent.
Musk once dreamed of making X the “biggest financial institution in the world,” taking the first step of launching a peer-to-peer payments competitor to PayPal’s Venmo, Block’s Cash App and bank-owned Zelle.
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