X (formerly Twitter) has long been expected to move into the Fintech sector. Today, we have an announcement from X CEO Linda Yaccarino on a partnership with Visa (NYSE:V) to enable peer-to-peer payments.
Via X, Yaccarino shared that the “Everything App” (IE X) will work with Visa on their Xmoney account, scheduled to launch at some point this year. Initially, XMoney will introduce a digital wallet (X Wallet) using Visa Direct. It will also allow users to connect a debit card to make peer-to-peer payments instantly.
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
Payments and transfers may be the first Fintech feature offered, but you can anticipate more services in the not-so-distant future. Many consumers prefer to minimize the number of Apps they use, and combining social media/news offered by X, direct communications, and financial services makes a lot of sense. Multiple Chinese Apps already do the same.
