Visa (V) has struck a deal with X to be the social media company's first partner for X Money, its built-in payments system, X Chief Executive Linda Yaccarino said Tuesday on the microblogging website.

X Money will debut later this year and will allow for secure, instant funding to a user's X Wallet via Visa Direct, Yaccarino said. It will also connect to a user's debit card, allowing peer-to-peer payments, and provide the option to instantly transfer funds to the user's bank account, she said.

Visa did not immediately reply to a request for comment from MT Newswires.

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