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Visa Partnership Takes X Closer Toward Musk’s “Everything App” Vision
The real-time payment service will launch in the US later this year, as the platform evolves into a Western equivalent of China’s WeChat.
X is taking another step toward becoming an “everything app” by partnering with Visa to introduce a real-time payment service known as the X Money Account. The news marks a significant milestone in Elon Musk’s vision for the platform, which has been evolving since his $44 billion acquisition in 2022.
According to X CEO Linda Yaccarin, the new feature will enable users to make peer-to-peer payments via an in-platform digital wallet. The transactions will link to users’ debit cards, allowing them to send money to others or transfer funds to their bank accounts.
Visa confirmed the partnership in its own announcement, stating that X Money will leverage Visa Direct, the company’s instant transfer service. Initially, the feature will be available only in the US, with no details yet on whether it will expand internationally.
Yaccarino described the Visa deal as a “milestone for the Everything App” and hinted at more major announcements for X Money in the near future.
Also Read: A Guide To Digital Payment Methods In The Middle East
Musk’s ambition to create a super app has been well-documented. Even before acquiring Twitter, the billionaire frontman of SpaceX and Tesla had spoken about turning it into a Western equivalent of China’s WeChat — a single platform combining messaging, video, streaming, and payments.
However, entering the financial services space is a risky undertaking for X, putting it in direct competition with other tech heavyweights such as Apple, Google, and Meta.
Finally, as X moves forward with its payment service, it remains to be seen how the platform will navigate regulatory challenges and competition. Whether Musk’s long-standing dream of an “everything app” will materialize is still uncertain, but this partnership with Visa signals a determined step in that direction.
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Lebanon Ministers Meet Visa Over National Digital Payment Platform
Finance and technology ministers say a comparative study and roadmap will follow before any decision on adopting a model.
Lebanon’s finance and technology ministers met representatives from Visa last week to discuss a proposed unified national digital payment platform for government services, according to a readout from the Ministry of Finance.
The meeting brought together Finance Minister Yassin Jaber, Minister of State for Technology and Artificial Intelligence Kamal Shehadeh, a Visa delegation, and experts from both ministries. Discussion focused on whether Lebanon could establish a single platform through which citizens and institutions would pay taxes, fees, fines and other official transactions electronically, using mobile phones and other digital channels.
The Visa delegation presented examples from countries that have adopted unified government payment platforms, including the United Arab Emirates, Singapore, Estonia and Jordan. According to the readout, the examples were presented as having increased collection rates and expanded financial inclusion.
Talks covered settlement mechanisms, direct transfer to the treasury account, financial reconciliation, risk management, cybersecurity, fees, and an operational model that would involve the private sector. The parties agreed to continue technical and institutional consultations, prepare a comparative study, and develop an implementation roadmap before any decision on adopting a model for Lebanon.
Jaber said the Ministry of Finance had already enabled citizens to pay using credit cards and e-wallets through transfer companies, but described the proposed platform as a further step. He framed the development of electronic payment and collection systems as a priority within the ministry’s modernization plan.
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Shehadeh outlined the citizen-facing concept as a single mobile application through which users could settle obligations to ministries, government institutions and other bodies.
“The idea, in short, is that any citizen downloads an application on their mobile phone, through which they can pay all service obligations for all ministries, government institutions, or those owned by the Lebanese state, and others as well, as the platform is not limited only to state institutions,” he said.
Shehadeh added that the platform would not displace banks and money transfer companies that currently provide collection services to the state, calling it complementary to their work.
