X Says in-Stream Payments Are Coming ‘Later This Year’

Despite not reaching the original Mena Men’s Meta for a 2024. launchX is now progressing with its money transfer procedure, with X Money activating “later this year”, allowing users to execute payments in the application and transfer funds to their bank account.

According to Director X Linda Yaccarino::

“Another milestone for the app all: Visa is our first partner for x money Account, which will make his debut later this year […] The first of many major announcements about X Money this year. “

As Yaccarino notes, Visa will power the new “X Money” serviceand will support payment transfers between traditional bank accounts and digital wallets within the application to allow current PEER-to-PEER payments.

The announcement comes after a series of delays for X’s payment plans, which is the backbone of the Elon Musk Vision “All App”. For example, X is still in the process of insurance the license for a payment transmitter in the USA, the first step in the procedure, and at the end of the check, actually had withdrew his application for this in New Yorka key state for its payments.

Really, According to Elon himselfX payment Licensing process It would be “irrelevant until California and New York approve of us.”

Obviously, x has a correction plan for this element is the approval of the payment process in 41 second state so far,, It is on the way to ticking that first key frame, which would then allow this next step.

Maybe from Vis on board it will help to facilitate its path on the approval front, which would then set it up to launch X Money in the USA sometime this year.

Although a small launch remains, only in the US, and the insurance of full approval in other regions could be shown difficult.

The key obstacle here could be a man’s political positioning, which is contrary to many government and regulatory bodies around the world. Many of these decision makers are unlikely to enable X to enable payments and gain greater impact in their regions.

As a result, although X may be approaching the starting of payments to the US, this would be relevant only for the fifth of the application user, with a long way in ensuring a wider approval.

Although this is a pessimistic point of view, the optimistic angle is that it will take the X step closer to Elon’s wider vision of the application aimed at paying, from which many more options will increase.

Elon’s vision “All Apps” for x mirrors the ubiquity of Wechat in Chinawith Chinese users effectively use Wechat as their digital identity for all types of transactions.

Back in 2000, when Musk worked in a digital payment space, he came up with the first outline of his Plan “all applications”which initially became a future plan for the development of Paypal. PayPal team I didn’t go with thisBut he has since been stuck with Elon, and he remains dedicated to the potential of the concept as a transformative shift in the banking/payment space.

X Money is the first key step in this larger plan, rising x from the social media application, on the basic service service, which people use to pay, and out of network, and also purchase, paying bills, banking, etc.

Thus, “all applications” shapes, although it is also worth noting that other platforms have tried the same approach, with little success.

Meta also tried to follow Wechat’s leadership and establish Messenger As a fundamental frame for transactions (twicein fact) but never caught up with Western consumers while he also tries Payments on WhatsApp on the emerging marketsbut he welcomed the regulatory return.

As such, it does not seem to be the odds of the men’s vision so bright, even if X can eventually make it easier to pay, supported by a visa or not. And again, with broader distrust in Musk and X platform, I am not sure that it will ever gather as Musk and Co. Hope.

But they will instruct it, and obtaining support from Vis is a key step, while it could also be that Musk’s political impact could help to get a service in a certain way, and make more offers to allow X money in multiple regions.

Indeed, that could go any case, but I would not be too excited at the moment because of the odds of X Money. At least not yet.