Elon Musk's social network X, formerly Twitter, unveiled on Tuesday its collaboration with Visa to manage peer-to-peer payment transactions for its forthcoming X Money feature.
"Another milestone for the Everything App: Visa is our first partner for the X Money Account, which will debut later this year. Allows for secure + instant funding to your X Wallet via Visa Direct," X's CEO Linda Yaccarino posted on the platform. "Connects to your debit card allowing P2P payments Option to instantly transfer funds to your bank account First of many big announcements about X Money this year."
The platform plans to utilize Visa Direct, Visa's real-time money transfer service, to deposit funds into the X wallet. It will also enable users to link a debit card for making payments to others and facilitate transferring funds back to their bank accounts.