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article imageTransfer money with just a tweet in France from tomorrow

By James Walker     Oct 13, 2014 in Technology
French citizens can now transfer money to friends and family via a simple tweet thanks to a partnership between Twitter and French bank Groupe BPCE.
One of the largest banks in France, the system will work through its own service, S-Money, and will allow transfers to other banks as well. Details on how it all works are scarce, with neither Twitter or BPCE deigning to explain what goes on behind the scenes.
It is certainly a scenario that is beneficial to both involved parties, though. The bank can attract new customers and keep existing ones loyal by making currency transfers easier than ever, rendering the increasingly redundant cheque one step closer to certain death, and Twitter can diversify once more into a new area of life.
Engadget notes how the system is different the embedded "Pay" button that companies can use to enable users to buy products directly from tweets. This is part of Twitter's "Buy Now" program and is solely aimed at commercial transactions.
By contrast, the new S-Money integration is firmly orientated towards personal transfers. It is another easy, accessible way to send money to somebody you know without having to bury into the back pocket of your wallet to retrieve a crumpled note.
Nicolas Chatillon, chief executive of BPCE's "S-Money" operations, said to Reuters "(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." A spokesperson added that it is "perfectly adapted to the Twitter experience", adding confidence that it should be easy to use.
For now, it certainly seems to be nothing more than a localized experiment though, available only in France. Perhaps Twitter will eventually team up with banks in other countries to enable the functionality in other nations but with details scarce on the ground, we'll just have to wait and see. If you live in France and have a Groupe BPCE bank account though, enjoy waking up to a new payment method for friends and family in the morning.
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