French Bank Teams with Twitter to Enable Money Transfers via Tweets

smoneyFrance bank Groupe BPCE has partnered with Twitter to enable customers to transfer money via tweets.

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.