Economy

With X Money away to payments on Musk’s social media

First the partners, then the service. With a partially unusual but still significant move for the weight of the agreement, X marks the first step towards the transformation of the platform. The announcement of the alliance with Visa made by Linda YaccarinoCEO of the former Twitter, represents the official way to the plan Xmoneythe virtual space dedicated to payments and other financial services. Through the use of Visa Direct, which allows the transfer of money in real time, X users will be able to put money on the digital portfolio resting on the social media, as well as connect a debit card to complete the transitions and send money to their account banking.

“Visa is our first partner for XMoney, who will debut by the end of the year. Allows safe and immediate loans to the wallet, connects to the debit card for peer-to-peer payment and can instantly transfer funds to you. It is the first of many great ads for XMoney scheduled this year “, reads the Tweet of Yaccarino, the project manager announced by Elon Musk in October 2022, immediately after the acquisition of Twitter for 44 billion dollars.

The aim of transforming social media into Everything Appthat is, in a space in which to combine a long series of services, including payments, shopping, messaging and communication platform, therefore finds its first vagite. A significant step forward, not only for the presence of Visa, but also because X has obtained licenses for the transfer of money in more than 40 American states through the subsidiary X Payments. This was a mandatory condition to launch the service, which at the beginning could only be available in some areas of the United States because of the different rules that regulate the matter. At the same time and for the identical reason, it is almost certain that European users will have to wait even more before they can use the service, called to comply with the laws in force of the European Union.