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X’s payments app will be available later this year
X will introduce payments app called X Money later this year with Visa as partner, CEO Linda Yaccarino announced.
According to Yaccarino, X Money will support person-to-person payments via users’ debit cards with the ability to transfer funds to a bank account, much like Venmo. Bothe Yaccarino and X owner Elon Musk have long promised to bring financial services to X as they attempt to turn the platform into an “ everything app.” In a memo last year, Yaccarino said the company planned to support banking and payments features for users. Musk recently told employees that “our user growth is stagnant, revenue is unimpressive, and we’re barely breaking even,” in a memo reported by The Wall Street Journal.
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