Daily News

X Money Moves Closer to Reality

Hey Payments Fanatic!

X Money is starting to roll out to Premium+ users.

The service includes a VISA debit card, peer-to-peer payments, a 6% APY, and up to $10 million in FDIC insurance through a cash sweep program, bringing Elon Musk's vision of an "everything app" one step closer.

The rollout is still limited, but it shows that X is moving beyond social media and becoming another company looking to compete for consumers' financial relationships.

There's plenty more waiting below.

You'll find a conversation with Robert Kraal, co-founder of Silverflow and former COO of Adyen, on what it really takes to build a global payments company, followed by this week's How Payments Companies Performed Last Week.

See what else is shaping Payments. 👇 See you tomorrow!

Cheers,

Marcel

INSIGHTS

▶️ The price of ambition, the story behind Robert Kraal | co-founder Silverflow & former COO Adyen. In this episode, Kraal shares the story behind building the payment infrastructure company, reflecting on three years without revenue, the personal cost of ambition, lessons from Adyen, and his goal of processing $1 trillion in payments. Watch here

The Price of Ambition, the story behind Robert Kraal | co-founder Silverflow & former COO Adyen.

NEWS

🌎 Airwallex has launched Airi, a consumer wallet that lets customers save payment details once and check out with a single click across participating merchants. The company says Airi can deliver up to 3x faster checkout and up to 14% higher conversion with no extra setup or fees.

🌎 Getnet launches card machine with conversational generative AI. The device interprets voice commands, such as the sale amount and payment method, then automatically prepares the transaction for the customer to complete. It includes the GetAI assistant, a conversational tool that helps merchants with questions about products, services, and operational processes.

🇩🇪 Banisi promotes its digital banking transformation with cards powered by Pomelo. Banisi is advancing its digital transformation by integrating Pomelo’s card infrastructure to enhance its banking platform. The bank is adopting Visa debit card issuing and processing capabilities, with plans to add credit, tokenization, 3D Secure, and dynamic CVV solutions.

🇱🇰 Seylan Bank enables Google Pay for Mastercard cardholders in Sri Lanka. With this launch, Seylan Bank customers can add their Mastercard cards to Google Wallet and make fast, secure and contactless ‘Tap & Go’ payments through their NFC-enabled Android smartphones. Payments can be made locally and internationally at all Mastercard acceptance locations, without the need to carry a physical card.

🇺🇸 MarginEdge Mastercard card targets restaurant Petty Cash. The new MarginEdge Commercial Charge Mastercard is now available as a physical card and will soon be offered in a digital version. According to a recent release, it provides real-time tracking, empowers employee decisions, flags policy violations, and integrates seamlessly into MarginEdge workflows.

🇫🇷 Worldline, Crédit Agricole, and Mastercard have completed the first production agentic payment transaction in France, demonstrating secure AI-driven commerce. This first transaction confirms the partners' ability to deploy payment solutions for agentic commerce, from AI discovery to purchase, and support its development on a European scale.

🇦🇹 Banca Transilvania announced a new stage in its partnership with McLaren Mastercard Formula 1 Team. The BT logo will appear for the first time this season on the McLaren car, steering wheel, and helmets of drivers Lando Norris and Oscar Piastri during the Austrian Grand Prix. The campaign aims to bring fans closer to the Formula 1 racing experience.

🇺🇸 X has begun rolling out X Money to select Premium+ users, introducing a cash sweep program offering up to US$10 million in FDIC insurance. The service also includes a 6% APY, a Visa-backed debit card, peer-to-peer transfers, and cashback, with a broader rollout planned for mid-2026.

🇬🇧 Wise Group plc reports Full Year 2026 financial results. The company reported FY2026 net revenue of $2.5 billion, up 19% year over year, with active customers rising 21% to 19 million and cross-border volume increasing 31% to $243 billion. The company also introduced FY2027 guidance and plans a new share purchase program exceeding $500 million.

🇺🇸 Affirm has appointed Ryan Schneider to its Board of Directors, effective July 1, 2026. The former Capital One executive and Anywhere Real Estate CEO will also join the Audit Committee, bringing experience in consumer credit, underwriting, risk, and regulated financial services.

🇺🇸 Ramp has promoted co-founder Karim Atiyeh to co-CEO alongside Eric Glyman. Atiyeh, who has led the company’s technology function since its founding, will share the top role as Ramp expands beyond corporate cards into AI spending infrastructure and accounting services.

🇪🇺 GCash owner Mynt seeks up to US$1.5 billion in record Philippine IPO. Mynt is preparing what could become the country’s largest IPO, aiming to raise up to US$1.5 billion by selling up to 9.23 billion shares. The FinTech’s listing would surpass the country’s previous IPO record if completed at the proposed price.

🇸🇬 MAS and ABS chart instant payments enhancements with PayNow Generation 2 Study. The potential enhancements to PayNow will better serve the needs of consumers, merchants, businesses and public agencies, and make Singapore's national payments infrastructure more seamless, efficient and accessible to users.

🇺🇸 Uniswap and Spark aim to build a stablecoin FX market as banks and FinTechs enter the industry. The protocols are building shared liquidity and trading infrastructure for a future with hundreds of competing digital currencies on blockchain rails. The goal is to make it easier to move between stablecoins while allowing idle capital to earn yield until it's needed for trading, the companies said.

🌎 Yape has enabled money transfers from Peru to Yape Bolivia, allowing users to send remittances directly through the app. The new feature supports transfers of up to S/500 per day and expands Yape’s regional payments and remittances network as part of its international growth strategy.