Elon Musk's X Partners with Visa to Bring Digital Payments - Envisions Becoming an 'Everything App'

Elon Musk's X platform, formerly Twitter, is about to revolutionize digital transactions with the introduction of X Money Account, a digital wallet that will allow users to send and receive payments without any hassle. On Tuesday, the company announced its partnership with Visa, marking a significant step toward transforming X into an "Everything App."
This is aligned with Musk's long-term vision of integrating financial services into social media, as is the case with China's WeChat, where messaging, shopping, payments, and entertainment all exist on one platform.
How X Money Account Will Work
The X Money Account will function as a digital wallet, allowing users to send, receive, and store funds without needing an additional app. Users can link their debit cards and bank accounts to the platform for seamless transactions.
As said by X CEO Linda Yaccarino, Visa's payment solutions will enable users to transfer money efficiently using their existing banking and digital wallets. This integration is expected to enhance financial accessibility and convenience for millions of X users worldwide.
X's Journey Toward Becoming an 'Everything App'
Elon Musk has been vocal about transforming X into a one-stop platform that offers social media, finance, AI-powered services, shopping, and more—similar to China's WeChat.
WeChat is a widely used Chinese app that offers messaging, video streaming, digital payments, gaming, and location sharing services. Musk aims to replicate and improve this model by making X the default platform for digital interactions and transactions.
Elon Musk's Long-Standing Connection with Fintech
Musk is no stranger to the digital payments industry. In 1999, he co-founded X.com, which became an online banking platform within a few months that gained 200,000 users. By 2000, X.com had merged with Confinity, eventually becoming PayPal.
It was two years later when eBay acquired PayPal. However, for Musk, financial technology was here to stay. Almost two decades on, he's re-entering the digital payments sector, embedding fintech in his social media empire.
A Game-Changer for X's Future
According to Yaccarino, Visa is a landmark deal in the transformation of X into an "Everything App." Through this partnership, Musk integrates social media, digital payments, and AI into one single platform, transforming users' interactions, transactions, and engagement.
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As X continues to evolve fast, it could redefine financial services expansion so the future social media platforms function by integrating digital transactions into the core experience of the user.