By Gaurav Pradhan
Money Transfer through Twitter ? – Yes !
This is going to be a reality. A leading French Bank has come up with this idea of teaming with Twitter to allow the customers to transfer money via tweets. Groupe BPCE is the second largest bank in France in terms of customers. This generation of idea matched the efforts to Twitter into the online payments domain as it is now trying to figure out new ways of revenue along with online shopping and advertising.
Twitter has ramped up its efforts to make this work, as it has approached tech giant Apple and Facebook to devise the portal for this new payment service working on mobile phones and apps. This collaboration is trying to compete with the old players like banks and credit card issuers who have handled this business for decades.
S-Money, as they have named it, is expected to perform transactions through Twitters accounts of French Consumers, irrespective of which bank they are in. You don’t have to enter any beneficiary’s bank details. Eventually, Money Transfer Fast and Simple.
Tweet payments will be managed by Bank’s S-Money service, where Twitter’s role will be merely connecting the consumers.
Both BPCE and Twitter had refrained from further disclosures on this venture. But we can hope for Social Media climbing new heights in the mode of usage and making life simpler.
(Author is a Management student of IIM Bangalore having an experience in Manufacturing Industry, Follow On Twitter @GauravToYou)
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