Elon Musk's X announces deal with Visa to launch in-app financial services
Social media site X has announced a deal with Visa as part of plans to launch a digital wallet for making instant payments on the platform.
X chief executive Linda Yaccarino said in a post to the platform that Visa was the first partner for X Money, which she said will launch with an X Wallet later this year.
The system will enable users to link their digital wallet with their bank account and debit card to transfer funds to and from their bank account, as well as make peer-to-peer payments.
Another milestone for the Everything App: @Visa is our first partner for the @XMoney Account, which will debut later this year.
💰Allows for secure + instant funding to your X Wallet via Visa Direct
🪪 Connects to your debit card allowing P2P payments
🏦 Option to instantly…
— Linda Yaccarino (@lindayaX) January 28, 2025
The move will be X's first into financial services, and feeds into a long-term aim of the site's owner, Elon Musk, who has spoken repeatedly of his desire to create an 'everything app', where users are able to access social media, entertainment, online shopping, communications and other services without having to leave that single app.
In a post to X on the announcement, Ms Yaccarino referred to it as 'another milestone for the Everything App', adding that the X Money account would 'debut later this year'.
'First of many big announcements about X Money this year,' she said.
According to reports in the US, X Money is expected to launch in the first quarter of this year, and will initially be used to allow creators on the platform to store their funds from posting and accept payments from subscribers without needing to use third parties.
Visa has not yet commented on the announcement.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Walmart's Stablecoin Ambitions Shake Up Payment Stocks
Walmart Inc. (NYSE:WMT) is one of the best dividend stocks for a bear market. The company is reportedly looking into the idea of creating or using its own stablecoins. These digital tokens allow the transfer of US dollar value through cryptocurrency networks rather than traditional banking systems. A manager standing in a hypermarket, pointing out items available for wholesale. For retailers, stablecoins are attractive because they could significantly reduce payment processing costs by leveraging the speed and efficiency of blockchain technology, though that could also divert a large volume of transactions away from major card networks. Despite this, analysts remain confident in the resilience of card companies. They argue that stablecoins are unlikely to disrupt consumer-to-business payments anytime soon, mainly due to regulatory and technical hurdles. In response to the news, Wells Fargo analyst Donald Fandetti stated that they remain bullish on Visa and Mastercard, citing multiple barriers to stablecoins becoming a viable alternative to traditional card payments. Walmart Inc. (NYSE:WMT) has a track record of exploring innovative financial technologies, and according to analyst Harshita Rawat, it's not unusual for major retailers to look into alternative payment options. She made the following comment: 'Traction will likely take years and may be limited to certain cross-border use-cases or some emerging countries (e.g., ones which have volatile underlying currencies). In retail consumer-to-business payments, stablecoins are a solution looking for a problem (for the foreseeable future) in most developed markets … There are, however, other use-cases with stronger product market fit e.g., in less liquid remittances corridors, cross-border business-to-business and treasury/cash management.' Walmart Inc. (NYSE:WMT) is a solid dividend stock with 52 consecutive years of dividend growth under its belt. The company offers a quarterly dividend of $0.235 per share and has a dividend yield of 0.98%, as of June 17. While we acknowledge the potential of WMT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Sign in to access your portfolio
Business Upturn
an hour ago
- Business Upturn
XRP and DOGE are back with a bang, and the environmentally friendly cloud mining platform attracts millions of users with easy mining
Newark, New Jersey, June 20, 2025 (GLOBE NEWSWIRE) — XRP is back in the spotlight after winning a lawsuit against the U.S. Securities and Exchange Commission (SEC), while Dogecoin is also back in the spotlight due to renewed speculation about Elon Musk's cryptocurrency ambitions. As attention returns to mainstream digital assets, more mining companies are turning to solar and wind power to reduce costs and improve efficiency. This shift toward clean energy is driving the development of platforms like OPTO Miner, which leverage sustainable infrastructure to provide users with a smarter, more responsible way to mine cryptocurrency. In today's rapidly changing cryptocurrency market, cloud mining is quietly becoming an ideal choice for more and more investors, especially novices. There is no need to purchase mining machines, configure equipment, or bear high electricity bills or maintenance costs. Just select the appropriate computing power contract on the platform, and the system will automatically run and generate stable income, truly realizing 'easy to get started, continuous income'. So, what is cloud mining? Simply put, a professional platform completes the entire mining process on behalf of users. Users only need to pay the computing power fee to obtain daily income as agreed. Compared with traditional mining, this model greatly reduces the participation threshold while retaining the core advantage of continuous value-added. For those who do not want to be affected by market fluctuations and do not want to invest too much energy in equipment, the efficient cloud mining service provided by OPTO Miner is undoubtedly a more worry-free and stable way to earn passive income. Especially as the platform provides free trial contracts and green energy drive, cloud mining is becoming a new starting point for more and more investors to expand digital assets. Why choose OPTO Miner: OPTO Miner is a platform that is particularly friendly to beginners. It is easy to operate and has a clear interface, and you can quickly get started without any technical background. Even if you know nothing about cryptocurrency, you can start your mining journey smoothly. At present, the platform has hundreds of mining farms and more than one million devices around the world, all of which rely on clean energy to run, which is both environmentally friendly and efficient. It is this model that has attracted more than nine million users worldwide to join. Its appeal also lies in the fact that there is a generous passive income every day. There is no need to stare at the screen for a long time, and there is no need to make complicated settings to get a stable income, which is very friendly to those who want to make money through mining. In addition, OPTO Miner attaches great importance to safety. The platform adopts multiple protection measures to ensure the safety of user assets and promises open and transparent operations. All mines use renewable energy such as solar energy and wind energy, which not only reduces damage to the environment, but also brings more lasting returns to users. The platform also provides many benefits, such as a $15 registration bonus for new users, daily settlement of income, no hidden service fees, support for multiple mainstream cryptocurrency settlements, etc. You can also get generous referral rewards by recommending friends to join, plus 24-hour customer service and a stable system, making the entire mining experience easy and worry-free. Platform advantages: ⦁Get a $15 bonus immediately after signing up. No additional service fees or management fees. ⦁The platform supports multiple cryptocurrencies such as XRP, SOL, DOGE, BTC, LTC, ETH, USDC, USDT and BCH. ⦁The company's affiliate program allows you to refer friends and get up to $5,0000 in referral rewards. ⦁McAfee® security, Cloudflare® security, 100% uptime guarantee and excellent 24/7 live technical support. How to join OPTO Miner: Step 1: Register an account OPTO Miner provides a simple registration process, you only need to enter your email address and create an account to participate. After registration, users can immediately start mining Bitcoin and other cryptocurrencies. Step 2: Purchase a mining contract. Currently, OPTO Miner also offers a variety of mining contracts to choose from, such as $100, $500 and $1,000 contracts, each with a unique return on investment and a specific contract period. ( Please visit the official website to view the contract content) After purchasing a contract, you will receive your earnings the next day. When your earnings reach $100, you can choose to withdraw to your cryptocurrency wallet or continue to purchase other contracts. Website: Application: APP Download Email: [email protected] was founded in the UK in 2018 , focusing on compliant cloud mining. With data centers around the world and advanced intelligent computing systems, OPTO Miner has built a stable and efficient mining ecosystem. Currently, OPTO Miner serves more than 7 million users in more than 180 countries, providing low-threshold, sustainable income solutions for global cryptocurrency investors. Disclaimer: The information provided in this press release is not an investment solicitation, nor is it investment advice, financial advice, or trading advice. Cryptocurrency mining and staking involve risks. There is a possibility of financial loss. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
2 hours ago
- Yahoo
Dow Jones Futures: Will Elon Musk's Big Robotaxi Bet Pay Off? Four Stocks In Buy Areas
The market rally held in a range this past week, amid Israel-Iran news. The Tesla robotaxi launch is set for Sunday.
