X, the platform formerly known as Twitter, is preparing to launch its payments service, X Money, later this year, with Visa as its first partner. The service will allow users to fund their X Wallets securely and instantly using Visa Direct, enabling peer-to-peer payments and direct transfers to bank accounts.
Linda Yaccarino, CEO of X, announced that Visa will be the initial partner for this service, marking a key step in X’s journey to become a super app. The rollout timeline remains unclear, with a 2025 launch suggested on the X Money profile. The platform has already secured money transmitter licenses in 41 U.S. states.
This development aligns with Elon Musk’s vision to transform X into an “everything app” that offers various financial services, including high-yield money market accounts, debit cards, and loans. Yaccarino also hinted at further announcements for X Money in the near future, although it is uncertain whether it will integrate with X’s creator revenue-sharing program.
Despite the ambitious plans, X is facing financial challenges, with Musk acknowledging that the platform is “barely breaking even.” Meanwhile, banks are reportedly preparing to sell portions of the $13 billion debt Musk took on to acquire the platform, as per The Wall Street Journal.
