#X digital payments

The platform is set to launch later this year, allowing users to make payments within the app. The partnership will enable users to add money instantly via Visa Direct, link debit cards for peer-to-peer payments, and transfer funds directly to their bank accounts. Yaccarino also hinted that more major announcements regarding X Money are coming this year, suggesting that the platform is planning to expand its financial ecosystem beyond just payments. The proposed measure aims to create a nationwide digital payments system for transactions with the government and between private groups. The bill seeks to expand the use of digital payments in the country. Tinio said the bill does not clearly state who can access transaction data once digital payments become more common. Tinio also warned about metadata, such as transaction time, frequency, and people involved in payments. Tinio also pointed out concerns about a digital divide, saying some people may not have access to smartphones or stable internet. Read more in our articles including "X Money Set to Launch This Year as X Moves Closer to Becoming an ‘Everything App’" and "House approves Digital Payments Bill on second reading".