X CEO Linda Yaccarino: Visa Partnership Latest Milestone for ‘Everything App’
Social media platform X announced Tuesday (Jan. 28) that Visa is its first partner for the X Money Account that will debut later this year.
The partnership will allow “secure + instant funding” to an X Wallet via Visa Direct, will connect to the user’s debit card to allow peer-to-peer (P2P) payments, and will give users the option to instantly transfer money to their bank accounts, X CEO Linda Yaccarino said in a Tuesday post on X.
Yaccarino said in the post that the partnership is “another milestone for the Everything App” and that this is the “First of many big announcements about X Money this year.”
Another milestone for the Everything App: @Visa is our first partner for the @XMoney Account, which will debut later this year.
?Allows for secure + instant funding to your X Wallet via Visa Direct
? Connects to your debit card allowing P2P payments
? Option to instantly…
— Linda Yaccarino (@lindayaX) January 28, 2025
The X Money profile page on X (@XMoney) describes the account as being “for all your money moves, powered by X, launching in 2025.”
Yaccarino announced the upcoming launch of X Money during a speech at CES 2025 on Jan. 8, saying the payment system aims to change both payments and creator opportunities on the platform.
She had said earlier that X has been working to acquire money transmitter licenses across various states to facilitate transactions in a bid to become a super app, similar to China’s WeChat, that will integrate financial services seamlessly into the social media experience.
X owner Elon Musk said in October 2023 that he expected X to transform into a payments super app.
“When I say payments, I actually mean someone’s entire financial life,” Musk said during a company all-hands call, the Verge reported at the time.
“If it involves money, it’ll be on our platform,” Musk said, per the report. “Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”
In April 2023, Musk said his vision for the company then known as Twitter, now known as X, was for it to become a $250 billion payments company as the social media app grew to become a major part of users’ financial lives.
“I think it’s possible to become the biggest financial institution in the world,” Musk said at a Morgan Stanley conference, The Wall Street Journal reported at the time.
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