BUZZ-X partnership should add to Visa's revenue over time, Seaport says

Seaport Research Partners says Visa's V.N partnership with Elon Musk's X is beneficial for the payments giant

Visa will be the first partner of the X Money account, wherein customers can instantly fund their X wallet and connect their debit cards for peer-to-peer payments (P2P), Reuters has reported

The partnership comes as Musk pushes forward to transform X into an "everything app"

Brokerage expects the partnership to add to Visa's revenue over time as X Money will use Visa Direct for P2P money transfers

Seaport expects the adoption rate to be in focus, given there are already numerous options for P2P payments in the U.S.

Brokerage says its early sense points toward a J-curve, a line graph that starts with an initial decline followed by a strong rise

Adds that X's strategy creates more competition for existing P2P platforms in the U.S.