X, formerly known as Twitter, is set to become an all-in-one application by Elon Musk. For that purpose, a number of new features need to be added, including involving finance.
In parallel, now X has shared that X will introduce their financial features this year starting with users in the United States, called X Money. For that purpose, X announced a collaboration with Visa.
X Money is expected to facilitate the transfer of financial funds between users, as well as making payments easily. It is also expected to be among the social services that integrate financial support in it.
For your information, the process of transferring financial funds between users in the United States is quite difficult and not very user-friendly. This has led to applications such as PayPal, Venmo and others that facilitate the process there, in contrast to the more advanced Malaysian financial system with support such as DuitNow and others.
Expanding financial services outside the United States may also take a long time, given the need to obtain operating permits, licenses and manage finances in each country.
X itself is expected to use the feature to pay content publishers on the platform, before gradually expanding its use. Let's all look forward to X's next step in this arena.
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