NEW YORK (AP) -The X joins a visa to offer a system for real-time payments on the social media platform soon-identifying some years of vision by billionaire owner Elon Musk to create a “app all.”
Visa is the first partner for the Platform's “X Money Account” service, which is about to launch later this year, said CEO Linda Yacarino in an Tuesday Post Publish the news. The offering, Yacarino noted, will support a digital wallet in platform and companion-to-peer payments associated with consumer debit cards, with an option to transfer money to a bank account.
According to Visa, who is also post About the partnership on X Tuesday, these services will be powered by Visa Direct – an immediate money transfer service the payment giant – and will be available to Cash Account X in the US
Whether X money will be available to consumers in other countries, and perhaps through additional payment partners in the near future is still known. And the exact date for the US launch has also not yet been announced.
In his post on Tuesday, Yacarino called the partnership with Visa “a milestone for the App everything” and the “first of many major announcements about X money this year.”
The hope of X from San Francisco, formerly known as Twitter, becomes “App all” has been float around for some time. Before closing the deal officially to Buy the platform for $ 44 billion Back in 2022, Musk to express interest When creating its own version of something similar to WeChat China – “Super App” that makes video conversations, messages, streaming and payments.
And his interest in such a platform began long before the Twitter deal was on the table. Musk has been drawing attention to the idea of a “everything app” since the late 1990s when it launched a start called X.com which was later united to what became X.com. He continued to push to Paypal diversified but was reprimanded by the company's CEO Peter Thiel and other executives. PayPal was sold in 2002 to eBay for $ 1.5 billion – providing an unexpected Musk that he streamed to create Spacex and investment in Tesla in his early days.
The landscape is much more competitive today-with a handful of companies making similar efforts to expand their offerings in a platform. Other social media giants, such as the parent of Facebook Meta, have added shopping, games and even dating features.
Users now have different platforms for them for communications, payment services, entertainment and more. How “everything” features will not become ankle has yet been seen. Since occupying 2022 Musk, the platform has already alienated many users and advertisers over reports of hate speech rising and wrongdoing.