X, the social platform once known as Twitter, has announced a new partnership with Visa to launch X Money, a digital wallet and peer-to-peer payment service.
This new partnership is the latest move by Elon Musk on his broader vision for changing X into an everything app where its users can create, socialize, and transact all in one place.
X Money will integrate with Visa Direct to allow real-time transfers, enabling users to load money into their digital wallets, pay the users, and transfer funds back to their bank accounts.
With the X Money feature, the platform is positioning itself as more than just a social platform; it is becoming a financial ecosystem that provides creators and users with new ways to engage with the app.
When Elon acquired Twitter in late 2022, his bold vision was always to go beyond traditional media and he aimed to create a one-stop-shop for all digital activities – from socializing, shopping, and now financial transactions.
X Money will transform how you interact with creators or send money to friends without ever leaving the platform.
While X faces regulatory hurdles and diminishing user trust, the X Money feature makes the platform’s vision for a full-fledged financial ecosystem more tangible.
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