One of France’s largest banks is teaming up with social network Twitter this week to allow its customers to transfer money via tweets.
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.
Twitter is racing other tech giants Apple and Facebook to get a foothold in new payment services for mobile phones or apps. They are collaborating and, in some cases, competing with banks and credit card issuers that have run the business for decades.
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. Read More
From CNBC 13 October 2014, Edited and condensed by Marco Gervasi for AQOS.
A Quote On Singularities 