Social media platform X has entered into a partnership with Visa to unveil a digital wallet, enabling users to make instant payments. X's CEO, Linda Yaccarino, announced that Visa will be the inaugural partner for the X Money Account, set to launch later this year.
The digital wallet will allow users to link their bank accounts and debit cards for seamless fund transfers, including peer-to-peer payments. This initiative marks X's first venture into financial services, aligning with owner Elon Musk's ambition to create an 'everything app' that integrates various services within a single platform.
Yaccarino described the launch as a significant step towards this vision, stating that the X Money account would debut later this year. Reports suggest that X Money will be available in the first quarter of 2025, initially catering to creators for storing earnings and accepting subscriber payments without third-party involvement.
Visa has yet to provide additional comments on the collaboration.