The news: X (formerly Twitter) partnered with Visa on its payments solution, X Money Account, CEO Linda Yaccarino posted on the platform.
What this means for Visa: Partnering with X will help the network grow its Visa Direct volume.
How this helps X: Visa can bring trust and security to X Money, helping it overcome a major adoption hurdle.
X Money will also benefit from Visa Direct’s near-real-time speed.
Our take: While partnering with Visa will help put X Money in a stronger position when it launches, the P2P platform will still face an uphill battle in securing consumer adoption.
In addition to trust issues, X Money will have to compete in a highly saturated market where consumers are already loyal to their preferred platforms, like Venmo, Zelle, and Cash App.
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