By Alexa Corse
Elon Musk's X platform said it is partnering with Visa to launch payment features for users that will debut later this year.
X Chief Executive Linda Yaccarino said Visa is X's first partner for what she called an X Money account. Users will be able to move funds into an "X Wallet," connect their debit card, and transfer funds to their bank account, according to a post from Yaccarino on the social-media platform.
Yaccarino has been pursuing a deal with Visa since at least last year, though she at times faced internal divisions over the idea, The Wall Street Journal previously reported.
The partnership represents a step towards the company's goal of becoming what Musk calls an "everything app"-an all-in-one platform for services including messaging, payments and entertainment.
After Musk's acquisition, the company's revenue plunged as big advertisers pulled back from the platform. More recently, however, X has seen momentum thanks in part to the site's role as a place to get news during the 2024 U.S. election cycle and Musk's alliance with President Trump. The company's financials have been improving as some brands have started spending again on the platform, the Journal previously reported.
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(END) Dow Jones Newswires
January 28, 2025 13:10 ET (18:10 GMT)
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