In order to allow users to make transactions in real time, the social network X signed an alliance with the credit card issuing company Visa for the launch of its own payment platform XMoney.

The CEO of the social network, Linda Yaccarino XMoney, said that the XMoney platform “works like a digital wallet and allows real-time transactions between individuals.”

Yaccarino added that Visa is its “first partner for the @XMoney account, which will launch later this year” and detailed that users will have the opportunity to “transfer money from their bank account to the XMoney digital wallet and connect their debit card to make real-time peer-to-peer payments (working like Venmo or, in Spain, Bizum) through Visa Direct, a company service for making instant transactions.”

Likewise, the platform’s customers will be able to deposit funds from their digital wallet to their bank account.

With this negotiation, the social network owned by Elon Musk advances in its purpose of offering users solutions to make payments and store funds without external intermediaries.

M.Pino

Source: contrapunto

(Reference image: BoliviaInteligente on Unsplash)

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La entrada Social network X to launch payment platform in partnership with Visa apareció primero en Bitfinance.

Cryptocurrency payments are expanding around the world. The US city of Detroit will soon offer its residents a PayPal-managed platform for paying taxes and other municipal fees in cryptocurrency.

According to city officials, “this innovative payment option is part of a broader strategy by the city to explore innovative technologies that can improve public services, strengthen civic engagement and foster economic growth.”

This PayPal-managed payment platform seeks to facilitate payments and transactions for Detroit residents, as well as attract “blockchain and technology entrepreneurs who want to make a difference in the city.”

Detroit Mayor Mike Duggan noted that the city is moving toward a “tech-friendly environment that empowers residents and businesses,” adding that they would become one of the first major cities in the United States to “explore blockchains in civic applications and allow residents to use their cryptocurrency as a payment option.”

On the launch date of this option, Treasurer Nikhil Patel said it is expected to be in mid-2025, accompanied by additional improvements to the city’s payment services.

M.Pino

Source: cripto247

(Reference image source: Traxer in Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Detroit to allow cryptocurrency tax payments apareció primero en Bitfinance.

By 2021, the renowned digital payments company, PayPal, is expected to exceed the expectations of many with the new proposal called Buy, Hold, and Sell Cryptocurrencies, which intends to double the bet maintained by the company towards cryptocurrencies, blockchain and digital currencies.

Leaving behind its limited cryptocurrency trading service, PayPal CEO Dan Schulman assured that the company is prepared to double its commitment to digital currencies. “The volume of cryptocurrencies traded on our platform far exceeded our expectations,” reported Schulman.

Regarding the acceptance of cryptocurrencies, the executive assured that digital assets will be received “as a financing method when users buy in any of our 29 million stores“, so that by the end of the year they can have a “broad roadmap around cryptocurrencies, blockchain and digital currencies.”

For his part, the CEO reported that the company continues to work hard and actively with regulators and central banks in order to guarantee a future without cash.

The initiative is expected to be extended to “Venmo and selected international markets” in 2021. PayPal also reported that platform users will become more active, generally after purchasing cryptocurrencies.

K.Villarroel

Source: Cointelegraph 

La entrada PayPal is ready to double its bet on crypto apareció primero en Bitfinance.