French bank, Twitter team up to let customers transfer money via tweetsOctober 13, 2014 - 13:31 AMT PanARMENIAN.Net - One of France's largest banks is teaming up with social network Twitter Inc. this week to allow its customers to transfer money via tweets, Reuters reported. The move by Groupe BPCE, France's second largest bank by customers, coincides with Twitter's own push into the world of online payments as the social network seeks new sources of revenue beyond advertising. The bank said last month it was prepared to offer simple person-to-person money transfers via Twitter to French consumers, regardless of what bank they use, and without requiring the sender know the recipient's banking details. "(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 beneficiary's bank details, with a simple tweet," Nicolas Chatillon, chief executive of S-Money, BPCE's mobile payments unit, said in the statement. Payment by tweets will be managed via the bank's S-Money service, which allows money transfers via text message and relies on the credit-card industry's data security standards. BPCE and Twitter declined to provide further details ahead of a news conference in Paris on Tuesday to unveil the service, Reuters says. Thomas Husson, a marketing strategy analyst with Forrester Research, said Twitter was likely to multiply efforts to explore new ways to generate revenue with banks and credit card firms. "Twitter wants to more explicitly demonstrate the overall value of its network as an advertising platform," he said. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. India wants Armenia’s proposals on use of Chabahar port India is expecting proposals from Armenia regarding the use of Chabahar port in Iran, Indian ambassador says. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. |