Elon Musk’s X Lands Major Deal With Visa To Provide Digital Wallet, Peer-to-Peer Payments

While Elon Musk and his Twitter takeover made significant headlines in 2022, the path forward for the company in the intervening years has also been the subject of much controversy.

Now, according to CNBC, X has made a deal with Visa and is taking the first step forward into a new era for its users, soon allowing those who hold accounts to initiate peer-to-peer payments and move funds inside of a digital wallet.

X CEO Linda Yaccarino Discusses Broad Details of the X Money Account Backed by Visa

On Jan. 28, X CEO Linda Yaccarino took to the platform to share a brief post outlining some of the details related to the X Money account, including the capabilities it will provide now that it has at least one major backer.

Yaccarino stated that X Money account holders will be able to securely and instantly fund their digital wallets via Visa Direct and link their debit cards in case they’d like to engage in peer-to-peer payments. Finally, they can instantly transfer funds from the X Money account to their traditional bank account, per Yaccarino’s post.

Reaction from comments left by X users beneath the post was nearly unanimous in terms of praising the news, with some simply reiterating the CEO’s enthusiasm with “LFG” comments and others asking for other payment partners or cryptocurrencies to be added to the mix.

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

For its part, Visa also took to X to post an informative note about the deal, claiming excitement over the prospect of working with the social media platform.

We’re excited to partner with @XMoney on the launch of X Money Account.

Visa Direct will make it possible for US X Money Account users to fund and transfer money in real-time with their debit card. https://t.co/h1t0ofX9NE

— Visa (@Visa) January 28, 2025

Elon Musk Has Laid the Groundwork for X Money, But His Work Isn’t Done Yet

As CNBC noted, Musk has been hard at work over the previous year in attaining state-level licenses for X Payments LLC, and per the company’s own website, 41 states have thus far given their approval. The company is also registered with FinCEN, or the Financial Crimes Enforcement Network.

And while partnerships with social media competitors like Google Pay remain unlikely, Musk and his execs may yet seal further deals with Mastercard, Amex, or various cryptocurrencies or exchanges.

The ultimate goal? According to USA Today, X has plans to become a “super app” in the vein of China’s WeChat.

“2025 X will connect you in ways never thought possible. X TV, X Money, Grok and more,” Yaccarino wrote on X on Dec. 31, signaling a significant shift for the platform in the year to come.