Twitter has inked a deal with Groupe BPCE allowing its users in the country to send money to each other – irrespective of their bank – via a tweet.
It is the first time Twitter has agreed such a deal with a bank. The service functions via S-money, an electronic money subsidiary of Groupe BPCE which currently provides mobile wallet solutions.
Group BPCE, which includes Banque Populaire and Caisses d’Epargne, announced the service — called S-money — on Tuesday.
Users tweet a payment request to S-money, which then requires an authentication code before sending the amount — and a tweet to the destination confirming the payment for all the world to see.
Jean-Yves Forel, chief executive officer of commercial banking and insurance for Groupe BPCE said that the initiative exemplifies its innovation strategy regarding payments.
“Groupe BPCE is the first banking group to offer individuals a payment solution where they can transfer money with a simple Tweet. This S-Money initiative opens up a whole new range of payment possibilities on the social networks,” he added.