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Elon Musk’s X begins its push into financial services with Visa deal

  • X has partnered with Visa to launch the X Money Account service, allowing users to fund their wallets instantly through Visa Direct and connect debit cards for peer-to-peer payments.
  • The X Money Account will enable users to transfer funds to their bank accounts instantly, with the service expected to go live later this year.
  • Linda Yaccarino, CEO of X, stated that this is the first of many announcements regarding X Money this year, aiming to compete with established digital payment services.
  • Despite being owned by Elon Musk, X is facing challenges with stagnant user growth and unimpressive revenue, according to Musk's statements.
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Forbes broke the news in United States on Tuesday, January 28, 2025.
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