X is set to roll out its long-anticipated payments service, X Money, later this year, with Visa as its initial partner, CEO Linda Yaccarino announced.

X is set to roll out its long-anticipated payments service, X Money, later this year, with Visa as its initial partner, CEO Linda Yaccarino announced.

The service will enable person-to-person payments via debit cards, allowing users to transfer funds to bank accounts, similar to Venmo. Additionally, users will be able to deposit money into an “X Wallet.”

Both Yaccarino and X owner Elon Musk have long envisioned integrating financial services into the platform as part of their goal to transform X into an “everything app.” While details remain limited, Yaccarino hinted at more announcements to come regarding X Money’s expansion.

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