• Anthony Farrior
• BUSINESS
• January 28, 2025
• 17 views
• 4 minutes Read

Linda Yaccarino Announces X’s Partnership with Visa for ‘X Money’

In a significant move towards transforming X into an “everything app,” CEO Linda Yaccarino has unveiled a partnership with Visa to launch the “X Money” account later this year. This collaboration marks a pivotal step in integrating financial services into the platform, enhancing user experience, and expanding X’s ecosystem. X Corp Introduces the X Money Account X Corp has launched a new digital wallet system called the X Money Account in partnership with Visa. This initiative allows users to fund their X Wallet instantly via Visa Direct, connect their debit cards for peer-to-peer payments, and transfer funds directly to their bank accounts. This partnership is a significant step towards transforming X into an ‘everything app’ by integrating comprehensive financial services, similar to platforms like Zelle or Venmo. The service is set to debut later in 2025. Key Features of X Money The upcoming X Money account is designed to offer users a seamless and secure financial experience within the app. Key features include: Strategic Vision Behind the Partnership This partnership aligns with Elon Musk’s vision of evolving X into a comprehensive “everything app,” akin to China’s WeChat. The goal is to create a platform that encompasses a wide range of services, including messaging, social networking, and payments, thereby increasing user engagement and offering a one-stop solution for various needs. Examples of Current Competition The digital payments market is a competitive space with several established players. Platforms like PayPal, Venmo, Zelle, and Cash App dominate the peer-to-peer payment landscape, offering users convenient ways to send and receive money. Additionally, Apple Pay and Google Pay have become go-to solutions for mobile payments and digital wallet services. By entering this space, X Money will need to differentiate itself through its integration with the X platform and its unique features, such as instant Visa Direct funding and comprehensive app-based services. Regulatory Progress…