In a move that’ll help them generate more income outside of advertising, Twitter has partnered with French bank Groupe BPCE to let its customers transfer money via tweets. Considered the second largest bank by customers in France, Groupe BPCE said they would allow simple person-to-person money transfers on the social network to its French consumers, regardless of the banks they use and without requiring the sender to know their recipient’s banking details.
The bank’s S-Money service will administer the payments. This service allows money transfers via text message and makes use of credit card industry’s data security standards. No further details have been divulged ahead of their news conference in Paris on Tuesday.
Source: Reuters