X Partners With Visa to Launch Real-Time Payments System

X is making a move towards becoming the "everything app" Elon Musk envisioned through a partnership with Visa that will bring a system for real-time payments to the platform. The "X Money Account" service set to launch later this year in the United States will feature a digital wallet and peer-to-peer payments connected to users' debit cards, with an option for bank transfers, powered by Visa Direct.

Elon Musk, who purchased Twitter for $44 billion in 2022, has been interested in creating a super app akin to China's WeChat, integrating functionalities like messaging, payments, and streaming. Linda Yaccarino, CEO of X, said: "The partnership with Visa is a milestone for the Everything App" and promised it to be "the first of many big announcements about X Money this year." It's unclear whether other payment partners will be looped in, or whether X Money will be extended to other countries.

Musk's pursuit of an "everything app" traces back to the late 1990s with his startup X.com, which eventually merged into PayPal. After PayPal was sold to eBay for $1.5 billion in 2002, Musk reinvested his earnings into ventures like SpaceX and early investments in Tesla. (This story was generated by Newser's AI chatbot. Source: the AP)