The next time you want to wire money to someone, you can turn to Twitter — that is, if you live in France.
Groupe BPCE, one of the largest banks in France, is enabling money transfers via tweets through its electronic money subsidiary, S-Money. The initiative was first announced last month and is reportedly scheduled to be unveiled at media event in Paris on Tuesday.
"Groupe BPCE is the first banking group to offer individuals a
payment solution where they can transfer money with a simple Tweet,"
Jean-Yves Forel, CEO of commercial banking and insurance at Groupe BPCE,
said in a statement in September. "This S-Money initiative opens up a
whole new range of payment possibilities on the social networks.”
The payments space, however, is more mature and becoming increasingly crowded. Square, Venmo, Google and others all already offer for users to pay one another seamlessly. Venmo, in particular, turns the transaction into more of a social experience in the same way one could imagine it being handled on Twitter.
That's not say Twitter wouldn't be interested in pursuing a true peer-to-peer payments service, but for now, it's just letting banks experiment with it on their own.
Groupe BPCE, one of the largest banks in France, is enabling money transfers via tweets through its electronic money subsidiary, S-Money. The initiative was first announced last month and is reportedly scheduled to be unveiled at media event in Paris on Tuesday.
"Groupe BPCE is the first banking group to offer individuals a
payment solution where they can transfer money with a simple Tweet,"
Jean-Yves Forel, CEO of commercial banking and insurance at Groupe BPCE,
said in a statement in September. "This S-Money initiative opens up a
whole new range of payment possibilities on the social networks.”A source close to Twitter told Mashable that the arrangement was not a "partnership," but rather a third party arrangement, not unlike the way businesses like Starbucks and Amazon have used Twitter for various ecommerce promotions. Twitter recently began testing its own "buy" button to enable purchases on the social network, potentially competing with Facebook and one day Pinterest for nascent social commerce space.A source close to Twitter told Mashable that the arrangement was not a "partnership," but rather a third party arrangement
The payments space, however, is more mature and becoming increasingly crowded. Square, Venmo, Google and others all already offer for users to pay one another seamlessly. Venmo, in particular, turns the transaction into more of a social experience in the same way one could imagine it being handled on Twitter.
That's not say Twitter wouldn't be interested in pursuing a true peer-to-peer payments service, but for now, it's just letting banks experiment with it on their own.
0 comments:
Post a Comment