French Bank Teams with Twitter to Enable Money Transfers via Tweets
- Sunday, October 12th, 2014
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The partnership with Frances second largest bank comes as Twitter explores revenue sources beyond advertising, with an eye on the increasingly-crowded online payments market.
Last month, Twitter began testing a Buy button that would enable users to discover products and make purchases directly from the social network.
Throughout October, the banks mobile payments unit S-Money will enable French Twitter users to send money to each other, managed by the S-Money service, which usually enables transfers via text message, and uses the credit card industrys data security standards.
“(S-Money) offers Twitter users in France a new way to send each other money, irrespective of their bank and without having to enter the beneficiarys bank details, with a simple tweet,” said Nicolas Chatillon, chief executive of S-Money. Groupe BPCE and Twitter will be holding a news conference later in the week to officially unveil the service.