Visa Partners with Elon Musk’s X to Launch ‘X Money’ Accounts in 2025
Key Takeaways
- Visa (V) is partnering with X (formerly Twitter) as its first financial services partner to power the upcoming "X Money" feature.
- Users will be able to transfer funds from Visa debit cards or bank accounts into their X Money accounts and send payments within the platform.
- X CEO Linda Yaccarino called the Visa partnership the "first of many" upcoming announcements for X Money in 2025.
- Visa Direct will enable real-time transfers for U.S. users once the feature launches later this year.
Visa and X’s Strategic Partnership
Visa has become the first financial services partner for X Money, the social media platform’s new digital payments feature set to roll out later this year. The collaboration will allow users to fund their X Money accounts from their Visa debit cards or bank accounts and send payments directly within the platform.The announcement, made via posts from Visa and X CEO Linda Yaccarino, signals X’s push into the digital payments space as it looks to create a more integrated financial ecosystem. Visa confirmed that its Visa Direct service will power real-time money transfers for U.S. X Money account holders.
Regulatory Approvals and Business Impact
An X subsidiary dedicated to payments has already obtained money transmitter licenses in 41 states, Bloomberg reported. This regulatory progress suggests X is moving closer to launching its financial services arm nationwide.By expanding into payments, X aims to diversify its revenue streams beyond advertising, which has declined significantly under Elon Musk’s leadership. The Wall Street Journal recently reported that Musk told employees X’s user growth has stagnated, revenue remains unimpressive, and the company is barely breaking even.
The X Money initiative could provide a new revenue source and help the platform compete with financial technology rivals like PayPal, Venmo, and Cash App while furthering Musk’s vision of turning X into an "everything app."