GS interviews Swipesum's Michael Seaman

In the following Q&A, Michael Seaman, CEO of Swipesum, shares his insights on how Elon Musk’s partnership with Visa, formed to introduce X Money, a digital wallet service enabling real-time peer-to-peer payments and fund transfers via Visa Direct, and the emergence of Trump’s fintech venture, Truth.Fi, could shape the broader payments landscape.

1. How do you see Elon Musk’s partnership with Visa impacting the broader payments landscape, especially given his past ambitions with X (formerly Twitter) and digital payments? 

If anything Elon Musk's partnership with Visa will increase A2A payments. I think we will see blockchain leveraged and potentially the use of Elon's favorite $DOGE coin. I think the end version of the system will be very similar to PayPal's Fastlane.

2. Could this Musk/Visa deal challenge existing payment networks, fintechs, or crypto-based payment solutions? If so, how? 

I don’t see this deal challenging existing payment networks. If anything it will simply increase the use of digital payments overall. However, Facebook has already tried to do something similar through its Messenger app, but I've never had someone ask me to send them money on Facebook.

3. What are the potential benefits or drawbacks for merchants and consumers? Could this introduce lower fees, greater efficiencies, or more friction in the payment process?

By embedding frictionless payment capabilities, X is creating a seamless hub for both engagement and transactions. However, I don't see a problem they're solving by adding payments to X... but we have yet to see the story unfold. 

4. Given President Trump’s influence and past financial ventures, do you anticipate regulatory scrutiny or political implications that could shape how his fintech brand, Truth.Fi, operates? 

They're operating now as any private company — striving for growth and innovation. Since Trump is involved, there will be scrutiny, but hopefully, that doesn't squash the innovation. The obvious opportunities would be to mirror what X is doing with Visa and leverage Trump's meme coin $Trump in some fashion. They're leaning into blockchain and crypto investments as a fund.

5. What challenges or opportunities might the Truth.Fi brand face in establishing credibility and adoption, especially in an industry dominated by established players like PayPal, Stripe, and traditional banks? 

You can't compare PayPal and traditional banks as competitors to Truth.Fi. Truth.Fi appeals to certain people and groups for unique reasons. There is a lot of trust in the investment and banking side, but it would be a stretch to see Truth.Fi compete with the largest payment infrastructure companies.

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