The S-money service, from the BPCE group, will announce on October 14 the payment solution via tweet.
Twitter users with a credit card will soon be able to send money securely with a tweet through the electronic payment service S-money, regardless of their bank. This service, offered by an establishment of the French banking group BPCE, should be presented tomorrow.
The S-Money solution works with a mobile app on iOS or Android. After loading the app, the user opens their online account, enters their bank details and can securely send and receive money to or from other S-money accounts. It is charged by credit card, free of charge. No banking information is stored on the phone. Transactions are numbers. It is also possible to regulate in this way the traders who use the service. S-money provides the list and allows you to search for them.
Twitter and Facebook test shopping services in the United States
The tweet money transfer service to be announced is not the result of an official partnership between the bank and the microblogging site, according to a Twitter spokesperson interviewed by our partners at IDG News Service. And currently there are no plans to launch the service in other countries.
For its part, Twitter is testing a buy button that will allow American users to buy products from their Twitter feed. After pressing the button, they will get product details and then be asked for payment and shipping information. If confirmed, their order will be sent to the merchant. Across the Atlantic, Facebook is also testing a service for buying from its activity feed or from a brand’s page. The social network will also aim to integrate mobile payment functions into its Messenger app. It remains to be seen if these services will be adopted. It is not certain that users want to disclose their financial information on Facebook or Twitter. In this field, the banking sector can have an advantage.