Latest news with #Yaccarino
Yahoo
an hour ago
- Business
- Yahoo
X app code points to a physical card coming to X Money
X's plans for a payments service may extend beyond the digital realm, new data suggests. According to findings from mobile app intelligence firm App Sensa, the X app has been updated over the past few weeks with several references related to a physical debit card, which can be customized with your X username. Dozens of new strings of code in the X app reference various actions you can take with the new debit card, including checking its shipping status, activating your card after it arrives, reporting your card lost or stolen, locking the card, setting a PIN, and more. Multiple strings also include the terms 'physical_card_option' as well as just 'physical,' the data indicates. The news follows X CEO Linda Yaccarino's January announcement that Visa would be the company's first partner for the X Money service, which will allow users to instantly fund their X Wallet accounts via Visa Direct. She explained that the new service would enable peer-to-peer (P2P) payments by connecting with users' debit cards and would offer the option to instantly transfer funds to your bank account. Yaccarino also noted that this would be the 'first of many' big announcements about X Money arriving this year. This suggests that X is on a path that will see it more broadly competing with other digital banks and payment services in the near future. To support its venture into payments, X has been registering for money transmitter licenses across the U.S. for over a year. As of December 2023, the company was licensed for payment processing in a dozen states. It has since increased its registrations to include 40 states, plus Washington, D.C. There are other references in the X app's code that tell us more about how this new payment card may work. For instance, some strings refer to 'cashback' and others to 'deferred debit.' It also appears you may be able to cancel your virtual card independently of the physical card and vice versa. Plus, the code suggests X could be pursuing relationships with other partners, as both MasterCard and Amex are listed as supported payment card brands. X owner Elon Musk has long envisioned the app formerly known as Twitter as more than a social network. In November 2022, he shared his plans to turn X into an 'everything app' that would include things like payments and banking, as well as better support for videos and creator content. Last year, X was spotted working on the addition of a Payments button that would be added to the site's main navigation bar. X has not shared when specifically it plans to announce X Money besides sometime 'later this year,' per Yaccarino's earlier post. X did not respond to a request for comment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
2 hours ago
- Business
- Time of India
Elon Musk's X may get another service, Twitter CEO Linda Yaccarino says 'that's the future'
Social media platform X (formerly Twitter ) is moving aggressively into financial services, with CEO Linda Yaccarino announcing that users will soon be able to make investments and trades directly on the platform. This push appears to be central to owner Elon Musk 's ambition to transform X into an "everything app," similar to China's WeChat. "You'll be able to come to X and be able to transact your whole financial life on the platform," Yaccarino said in an interview with the Financial Times. 'And that's whether I can pay you for the pizza that we shared last night or make an investment or a trade. So that's the future,' she added. Adding to these plans, the company is also exploring the introduction of an X credit or debit card, potentially launching as early as this year. Twitter is already working on X Money This foray into finance comes as X has already committed to introducing X Money , a digital wallet and peer-to-peer payment service, with Visa as its initial partner later this year. Yaccarino confirmed that X Money will debut in the US first before a global rollout. The service aims to enable users to purchase merchandise, store value and tip creators directly on the platform. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ductless Air Conditioners Are Selling Like Crazy [See Why] Keep Cool Click Here Undo "A whole commerce ecosystem and a financial ecosystem is going to emerge on the platform that does not exist today," she emphasised. The platform's pivot to new revenue streams comes as it continues to struggle with financial headwinds. Since Elon Musk's $44 billion acquisition of Twitter in 2022, when it was rebranded as X, the company has seen a mass exodus of advertisers – its primary source of revenue. Several brands cited concerns over Musk's relaxed approach to content moderation, which could place their ads near objectionable content, as well as the billionaire's own controversial use of the platform. World Music Day 2025: Tech That Changed How We Listen to Music AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Axios
5 hours ago
- Business
- Axios
X hires its third public relations lead in less than a year
Elon Musk's X has brought on a new head of U.S. public relations, its third in less than a year, Axios has learned. Why it matters: Both Musk and CEO Linda Yaccarino continue to downplay the value of traditional media and public relations. Driving the news: X has hired Rosemarie Esposito as senior manager, media strategy for the Americas and Victoria Gillespie as director, media strategy for EMEA/MENA/Africa. Between the lines: The social media platform continues to have a strained relationship with the media and advertisers, which was on full display this week at Cannes Lions. On Monday at an Axios event in Cannes, Yaccarino repeatedly dismissed a Wall Street Journal report that X was threatening to sue advertisers if they didn't buy ads on the platform. When Axios' Sara Fischer asked Yaccarino about this, she replied by slamming the WSJ, saying "Does anyone still read that publication?" "I saw on the beach that they were giving it away for free this morning. So that probably says something," she added. Yes, but: In January, Yaccarino brought on former Wall Street Journal editor John Stoll to lead its news partnerships. Catch up quick: X has been a revolving door for communication professionals. Esposito succeeds Dave Heinzinger — who departed the company after only three months — and Joe Benarroch, who led X's media and communications efforts until June of 2024. Details: Esposito joins X from Blue Origin, where she served three years as senior public relations manager. She held previous roles at Medidata, IBM, and Hotwire PR. Gillespie is the first communications hire outside of the U.S. since Musk gutted the function, shortly after taking ownership. She previously led communications for Snap Inc in the U.K. and supported corporate communications at Channel 4. The intrigue: Esposito does not appear to have an active X account, though she has a presence across Instagram, Threads and LinkedIn. Gillespie has not posted on the platform since 2021 — prior to Musk's takeover. What to watch: With these hires, plus Stoll's recent appointment, it appears as though X is looking to re-engage with traditional media while simultaneously questioning its influence.
Time of India
10 hours ago
- Business
- Time of India
Musk's X to offer investment, trading in 'super app' push: Report
X CEO Linda Yaccarino has said users will soon be able to make investments or trades on the social media platform, the Financial Times reported on Thursday, a move to support billionaire owner Elon Musk 's vision to create an "everything app." In an interview with the publisher, Yaccarino said the company was exploring the introduction of an X credit or debit card, which could come as soon as this year. Musk, who in April 2022 clinched a $44 billion deal to buy Twitter and later rebranded it as X, has signaled plans to model it as a "super app," similar to China's WeChat. The social media platform did not immediately respond to a Reuters request for comment. "2025 X will connect you in ways never thought possible. X TV, X Money, Grok and more," Yaccarino wrote in a post in December last year. Payment s giant Visa and X partnered to offer direct payment solutions to customers of the social media app, a person familiar with the matter said earlier this year. A super app, or what Musk refers to as an "everything app," has been described as the Swiss army knife of mobile apps, offering a suite of services for users such as messaging, social networking, payments and e-commerce shopping. X hired NBCUniversal advertising chief Yaccarino as CEO in 2023 amid advertiser exodus from the platform as they worried that their ads could appear next to inappropriate content. Yaccarino said that 96% of X's ad clients prior to acquisition had now come back to the platform, the Financial Times report said. The company is poised for its first year of ad revenue growth this year since its acquisition by Musk, according to data from research firm Emarketer in March. X had filed a lawsuit in federal court in Texas against the World Federation of Advertisers, accusing them of unlawfully conspiring to boycott the site and causing it to lose revenue.
Time of India
11 hours ago
- Business
- Time of India
After EVs, rockets, and social media, the world's richest man Elon Musk is now eyeing your wallet
Elon Musk , the world's richest man, is now setting his sights on the world of finance. After shaking up electric vehicles, space travel, and social media, Musk is preparing to launch financial services through his platform X—formerly known as Twitter. According to reports, Musk plans to introduce investment and trading features on X as part of his vision to transform it into a 'super app' akin to China's WeChat. The goal is to build a comprehensive financial ecosystem that enables users to carry out transactions—shopping, tipping, storing money, and more—without ever leaving the platform. As part of this plan, X is expected to roll out branded credit and debit cards, potentially as early as this year. The initiative will debut in the U.S., with global expansion to follow. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 23.7% Returns in last 5 years with Shriram Life's ULIP Shriram Life Insurance Undo Visa has already signed on as the platform's first payments partner. The service, dubbed X Money , will include a digital wallet and peer-to-peer payment functions. Users will be able to make purchases, store funds, and support content creators, all within the app. 'You will be able to go on X and conduct all your financial transactions on the platform,' X CEO Linda Yaccarino was quoted as saying at the Cannes Lions International Festival of Creativity. She described the effort as the foundation of 'a whole commercial and financial ecosystem that doesn't exist today.' Live Events However, the road ahead isn't without hurdles. Regulatory scrutiny, particularly around licensing and anti-money laundering compliance, could pose significant challenges to Musk's ambitions. X is also working to rebuild its advertising business after a mass exodus of advertisers following Musk's acquisition in 2022. Concerns over content moderation and brand safety had driven many advertisers away, with some ads appearing next to controversial content. Despite lingering doubts from some marketers, Yaccarino claims that 96% of pre-acquisition advertisers have returned. Research firm eMarketer forecasts that X will generate $1.9 billion in ad revenue in 2024 and $2.3 billion in 2025—still far from the $4.1 billion it earned in 2022. In December 2024, Yaccarino had teased several upcoming features including X TV, X Money, and Grok, an AI chatbot, signaling that 2025 could be a pivotal year in Musk's quest to turn X into a one-stop digital universe.
