Elon Musk's social network X announced a significant step towards becoming an "everything" app by partnering with Visa. This collaboration will introduce X Money, enabling users to make purchases directly via the platform. CFO Linda Yaccarino confirmed that the service, which will integrate the Visa Direct transfer system, is set to launch later this year. This initiative aims to facilitate instant, irrevocable payments and address funding challenges for users. Visa's strategy focuses on embedding payment systems into social platforms to simplify transactions for creators and consumers alike.
This gives [X] very easy access to a very ubiquitous, instant payment network. A lot of the public discussion around instant payments revolves around RTP and FedNow, but neither one of those has nearly the network reach that Visa Direct does.
We want to be everywhere money is moving - by embedding ourselves directly into social platforms, e-commerce sites and marketplaces, we meet creators where they are and streamline the entire process of getting paid.
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