On its journey towards becoming a super app, X, the platform formerly known as Twitter, is preparing to launch its payments service, X Money, later this year with Visa being its first partner. 

According to Linda Yaccarino, the CEO of X, the service's first partner will be Visa, enabling users to fund their X Wallets securely and instantly via Visa Direct. The platform will support P2P payments through debit cards, and direct transfers to connected bank accounts will also be available.

The timeline for the service's rollout remains somewhat unclear, with the official X Money profile suggesting a 2025 launch. According to X payments website, the company has secured money transmitter licences in 41 U.S. states so far.

The introduction of a payments system aligns with Elon Musk's vision of transforming X into an "everything app." Following his acquisition of the platform in October 2022, Musk outlined ambitions to turn it into a financial hub, offering features such as high-yield money market accounts, debit cards, and loan services.

Yaccarino described the Visa partnership as the first of several significant announcements planned for X Money this year. However, it remains unclear if the service will integrate with X's existing creator revenue-sharing programme. 

X is currently navigating financial challenges, with Musk recently admitting in an email to employees that X is "barely breaking even." This comes as banks prepare to sell off portions of the $13 billion debt Musk incurred to acquire the platform, according to a recent report by The Wall Street Journal.