According to Yaccarino, X Money will enable “secure + instant funding to your X Wallet via Visa Direct”.
The launch of X Money is expected in 2025.
So far, the service has secured money transmitter licenses in 41 U.S. states.
Micro-blogging platform X (formerly Twitter) can soon launch its payments platform. The same has been anticipated for some time now. Confirming the same, X CEO Linda Yaccarino announced that the service will go live “later this year,” with Visa as its first official partner. The service can be similar to how we have a payment option now on WhatsApp. Here’s what we know about it so far.
SurveyAccording to Yaccarino, X Money will enable “secure + instant funding to your X Wallet via Visa Direct”. This will allow users to make peer-to-peer payments and quickly transfer funds to their bank accounts. This is also pretty similar to services like Venmo.
Yaccarino’s announcement suggests that Visa is only the first of multiple partnerships expected this year. However, it remains unclear whether X Money will be linked to the platform’s creator revenue-sharing program.
When will X Money launch?
Yaccarcino tagged the X Money profile in her announcement. If you click and reach the profile, it also shows that the launch is expected in 2025. So far, the service has secured money transmitter licenses in 41 U.S. states, according to the X Payments website. Bloomberg had also previously reported that as of mid-2024, X Payments was working with Citibank and had partnerships with payment providers Stripe and Adyen.
Ever since Musk took over Twitter in 2022, he has been transforming the platform to “X” one step at a time. This is also part of transforming X into an “everything app.”
This announcement also comes at a time when X is facing financial challenges. Musk recently admitted that the company is “barely breaking even,” and reports indicate that banks are preparing to offload part of the $13 billion debt Musk took on to buy the platform. Once X money is launched, the company will get a new stream of revenue.
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Mustafa Khan
Mustafa is a young tech journalist who tells it like it is, cutting through buzzwords to deliver straightforward smartphone reviews. He’s the office go-to for insider tips and quick demos, and his video content doesn’t waste anyone’s time. When he’s off the clock, he geeks out over cars, photography, and hunting down the best spot for Indian food. View Full Profile
