X Money is launching its journey to becoming an “everything app” this year
In Elon Musk’s quest to make X the West’s “everything app“, just like WeChat is in China, one of the main pillars is obviously a way to process payments. And so X Money will launch later this year. According to the official X account, it’s “for all your money movements.” X CEO Linda Yaccarino just announced that Visa will be the first partner for the account.
This account gives you the ability to deposit money instantly and securely via Visa Direct. It connects to your debit card and allows peer-to-peer payments. There’s also the option to transfer money directly to your bank account.
We assume this is primarily for the United States, where X Money will undoubtedly launch first. However, it remains exciting to see how far it can spread geographically and whether it will have to give up some features in some places in the process – after all, financial services regulations vary considerably from country to country.
Anyway, Yaccarino promises that the Visa partnership is just the “first of many big announcements” about X Money this year, so we’re excited to see what else they have planned there.
