Elon Musk Introducing Digital Payments on X; Push Into Visa Deal

Elon Musk’s social media platform X has announced to launch of the digital wallet services provided by Visa. In addition, the company also announced to bring peer-to-peer services on its platform. The tech giant has announced its partnership with the Visa, a trusted leader in digital payments. The company will debut its digital payment service later this year. This is the company’s first partnership with a digital payment organization.

Linda Yaccarino, the CEO of X Corp posted on her X account about the partnership. Her post reads, “Another milestone for the Everything App: @Visa is our first partner for the @XMoney Account, which will debut later this year.”

Another milestone for the Everything App: @Visa is our first partner for the @XMoney Account, which will debut later this year.

💰Allows for secure + instant funding to your X Wallet via Visa Direct

🪪 Connects to your debit card allowing P2P payments

🏦 Option to instantly…

— Linda Yaccarino (@lindayaX) January 28, 2025

The feature will allow users to make P2P payments along with instantly transferring money to their connected bank account. The service is approved for the money transmitter licenses in 41 US states. As per report, the company will use Visa Direct which is Visa’s real-time money transfer solution. This will find X money wallet which will be linked to user’s debit card. The post also mentions that users will be able to transfer money instantly in their bank account.

X entering in the digital wallet service will significantly bolster the company’s growth. Additionally, the ervice will expand the company’s eco system and will tap into the booming fintect market. The digital payment strategy for X will play a crucial role in diversifying company’s revenue system and will also bring more user engagement on its platform. This move is actually solidifying Elon Musk’s vision of turning X into an all encompassing app just like China’s WeChat.

Once the service will be live the platform will turn into both for social interaction and financial transactions. For users the payment system will turn into a secure  and convenient way to manage their finances and transactions.