https://ift.tt/YaozSfQ
X Partners With Visa for Future In-App Payments https://ift.tt/ugOAN4Z ![]() Visa is the first official partner for X's forthcoming in-app payments product, “X Money,” according to a post by X CEO Linda Yaccarino on Tuesday morning. According to Yaccarino, X Money will debut later this year. Visa's participation in the initiative is designed to allow for secure and instant funding of user's “X Wallets” via Visa Direct, the company's real-time money transfer solution. X users will also reportedly be able to connect their debit cards for peer-to-peer payments, while “instantly” transferring funds into their bank accounts directly from the social-media app, similar to Zelle or Venmo. Plans to launch X Money this year highlight X's ongoing commitment to become “an everything app,” especially with regard to in-app payment functionality. advertisement advertisement X owner Elon Musk has a notable history in online banking. The billionaire's first online banking start-up, X.com, launched in 1999 and eventually became PayPal. Not long after Musk bought Twitter in 2022, the platform's parent company X Corp secured its first licenses to enable funds transfers in the app -- allowing companies to send, receive, and transfer funds among users in New Hampshire, Michigan, and Missouri. Now, the company has these licenses in more than 40 states. In an interview, Musk likened the future of X's payment functionality to China's popular WeChat app, which billions of users in the region use to pay their bills and buy groceries, along with entertainment and social media-based activities. However, Musk and Yaccarino misinformed users who expected “X Money” to launch by the end of 2024. In October 2023, Musk informed X employees that they would soon not need a bank, stating that “it would blow my mind if we don’t have [X Money] rolled out by the end of next year.” Musk has said that New York would be a key state for the platform’s initial payments push, but X withdrew its application for a license in the state after a legal filing was made against the platform for allegedly disclosing confidential user data to the Saudi Arabian government and Saudi Crown Prince Mohammed bin Salman’s investments in X. Neither Musk or Yaccarino has announced an official launch date for X Money. Mobile Marketing via MediaPost.com: mobile https://ift.tt/iACBnXU January 28, 2025 at 03:20PM
0 Comments
Leave a Reply. |
CategoriesArchives
April 2023
|