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. The offering, Yaccarino noted, will support an in-platform digital wallet and peer-to-peer payments connected to users' debit cards, with an option to transfer funds to a bank account.
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.
Whether X Money will become available to consumers in other countries, and perhaps through additional payment partners in the near future is still unknown. And an exact date for the U.S. launch has also not been announced yet.
In her post Tuesday, Yaccarino called the partnership with Visa a “milestone for the Everything App” and the “first of many big announcements about X Money this year."
The prospect of San Francisco-based X, formerly known as Twitter, becoming an “everything app" has been floated around for some time. Before officially closing the deal to purchase the platform for $44 billion back in 2022, Musk expressed interest in creating his own version of something similar to China’s WeChat — a “super app” that does video chats, messaging, streaming and payments.
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