X Partners with Visa to Advance Digital Wallet Integration for ‘Everything App’
Elon Musk’s X has announced a strategic partnership with Visa Inc., naming the payments giant as the first major collaborator in its effort to transform X into an all-encompassing digital platform.
As part of the X Money payments system, Visa will enable users to load funds into digital wallets, link debit cards, and seamlessly transfer money to bank accounts. This move is expected to accelerate X’s transition into a multifunctional app, integrating financial transactions alongside its social media capabilities.
The addition of a robust payment network is a crucial step toward Musk’s vision of enabling X users to shop online, transfer funds to peers or businesses, and eventually use their accounts for in-store purchases. However, X will face strong competition from established players such as PayPal’s Venmo, Apple Wallet, and bank-backed Zelle.
X Payments, a subsidiary of X, has been securing regulatory approvals and currently holds money transmitter licenses in 41 U.S. states. Musk has long emphasized the need for alternative revenue streams beyond advertising, which has declined since his acquisition of the company. He envisions X evolving into the world’s largest financial institution, potentially offering high-yield accounts for stored funds.
In the near future, X plans to introduce a dedicated payments dashboard accessible via its mobile app and website, allowing users to manage transactions, send and receive money, and store digital assets—all within a single, centralized hub.
