Elon Musk's XMoney: New Payments Platform Launch

0:00From the Daily News Now Network, this is Corey with Entertainment and Celebrity News today. Elon Musk plans to roll out X-Money, his new payments platform from the social site X in beta form to select users this April. The Apple handle peer-to-peer transactions, much like Venmo or PayPal, letting people send money directly to each other. X-Money ties into a partnership with Visa, using their digital network to fund wallets or link debit cards for quick payments. Musk has called it the spot where all money flows, part of building and everything app that mixes social features, shopping, and finance like China's. WeChat, actor William Shattner shared screenshots last month of his early invite, with Musk confirming it would activate soon, that sparked buzz about the launch. The service is licensed in 40 U.S. states plus Washington, D.C., but faces pushback. New York officials urged their financial department last May, not to approve it, citing concerns over fair operations.

1:00Experts remain optimistic, analysts point to Musk's track record, including co-founding X.com in the 1990s, which grew into PayPal. They say his focus on payments and tech gives X-Money strong odds in the competitive market. Special thanks to our sponsor for supporting this episode. It is a pillow that plays your podcast and music without earbuds, built for listening in bed. S-O-L-I, solelypillow.com