X Corp CEO Linda Yaccarino on Tuesday announced that X had entered into a partnership with Visa as it seeks to launch X Money accounts that will allow users to transfer funds into a wallet and make peer-to-peer payments on the app. File Photo by James Atoa/UPI | License Photo
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 CEO Linda Yaccarino said the partnership with Visa was the first step toward creating X Money accounts that will debut later in 2025 and will allow for secure and instant funding to the wallet via Visa Direct. Advertisement
She said users will be able to connect debit cards to allow peer-to-peer payments and the option to instantly transfer funds to their bank account.
This, Yaccarino said, was “another milestone” in creating the “everything app” that Elon Musk envisioned when he purchased the platform — then known as Twitter — in a blockbuster $44 billion acquisition in 2022.
At the time he said he hoped X would allow users to conduct all of their financial business on the app.
X Payments LLC has been licensed in 41 states and registered with the Financial Crimes Enforcement Network.
Nima Owji, an app researcher, told Tech Crunch that one of the big knocks against X Money currently is that it wouldn’t be available in every U.S. state when it launches this year. Advertisement
