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Investing.com -- In a significant development, payments behemoth Visa (NYSE:V) has teamed up with X, the social media platform previously known as Twitter and now owned by Elon Musk. This collaboration aims to introduce direct payment solutions to X’s user base.
The partnership was confirmed by Linda Yaccarino, X’s CEO, who stated that Visa is the first partner for the XMoney account, a new feature set to be launched later within the year. The alliance emerges as Musk continues his mission to morph X into a multi-service application, providing a broad spectrum of facilities, including social networking, messaging, and now, payments.
This collaboration is seen as a part of Musk’s ongoing efforts to transform the platform, making it more than just a social networking site. The introduction of the XMoney account, in partnership with Visa, is a significant step in this direction, offering users an integrated payment solution within the app.
The exact details and functionalities of the XMoney account are yet to be disclosed. However, the partnership with Visa, a global leader in digital payments, signals a strong commitment to providing a secure and efficient payment solution for X’s users. The launch date for the XMoney account is still undisclosed but is expected to be sometime later this year.
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