French bank uses Twitter for P2P payments

13 OCT 2014

France’s second largest bank Groupe BPCE has launched a service that enables users to tweet money to one another.

BPCE said anyone in France with a bank card and a Twitter account can send money to other users for free with its new service.

The service was developed by S-money, the bank’s electronic money subsidiary that also provides a mobile wallet.

BPCE claims to be the first banking group to offer such a service. Users do not need to have a BPCE account to send a P2P payment via Twitter. Nor do they need to enter the recipient’s bank account details.

An announcement, which includes an encouraging quote from the Twitter France CEO, was first made last month.

Social networks are increasingly looking to P2P payments as an additional service they might offer to users. Facebook is studying a similar move, although it appears to consider P2P payments more a means to break into emerging markets.

Separately, Twitter is trialling a Buy button in the US as an early step in the m-commerce market.

Author

Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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