Elon Musk’s social media platform, X, is taking a major step into the financial services sector with the launch of X Money. Partnering with Visa, the company would digitally enable seamless wallet and peer-to-peer payments to be offered over the platform.
X Money: A new era of digital payments
On Tuesday, X officially announced the introduction of the X Money Account, a digital wallet integrated with peer-to-peer payment services. The first partnership under this initiative is with Visa, the largest U.S. credit card network.
Visa and X will provide users with direct payment solutions, allowing them to instantly fund their X Money wallets, connect their debit cards, and transfer funds to their bank accounts.
Elon Musk’s vision for X as an ‘Everything App’
Since acquiring Twitter for $44 billion in late 2022, and branding it as X, Musk is still adding new features that can expand its functionality. From revoking the free verification program to introducing a paid membership model, generally, Musk has remained focused on making X a stop for messaging, social networking, and now, financial transactions.
Linda Yaccarino, CEO of X, hinted at the broader vision last month, stating, “2025 X will connect you in ways never thought possible. X TV, X Money, Grok, and more.” This statement underscores the company’s ambition to create a multi-purpose ecosystem that integrates entertainment, AI, and financial technology.
How the payment feature works
X Money will offer a range of financial services to enhance user experience, including:
- Instant funding of X Money wallets.
- Seamless peer-to-peer payments via connected debit cards.
- Direct transfers from X Money to bank accounts.
Although it remains to be seen which regions the service is initially available in, reports indicate that it will first be available in parts of the country before going national, and then certainly globally.
The future of X and digital payments
The integration of financial services into X aligns with Musk’s long-term vision of creating a comprehensive digital hub. With Visa as its first partner, X Money has the potential to disrupt traditional payment methods and compete with existing financial technology platforms.
As X continues to evolve, more partnerships and innovations are expected, making 2025 a pivotal year for the platform. With financial transactions now becoming part of the X ecosystem, Musk is one step closer to realizing his dream of an “everything app.”