Tag Archives: electronic wallet

Tweet Money With The New Service, in France

By Mohammed Waseem

In France sending money has become very easy with a new service introduced. All a person needs is a Twitter account and a bank card to tweet money to a friend or make a donation. Groupe BPCE, a French bank has facilitated Twitter money transfer to offer hashtag money transfers.

Twitter is very common in France and has a huge user-base. BPCE believes that this move by the bank would boost their e-banking users. Just like a tweet, money would be sent as well. However, retweets are disabled for security reasons. The service is free of charge and is to remain free for individuals; a fee maybe chargeable to commercial clients.

bpce-twitter-paymentsBPCE has teamed up with Twitter to offer this service, and the process is the same as normal tweets work, except for retweeting. The primary objective of this service is crowdfunding, charity fundraising and also pooled payments like gifts for friends. The bank’s service called S-Money, which is a mobile wallet already has over 100000 users in France; they have a plan to attract over 1 million users in the near future.

The transfers work within France and can be accessed using the already existing S-Money app. The Twitter transfer feature has been introduced in the app update. To send money, one has to send a tweet by typing this: “@SmoneyFR #envoyer X€ @destinataire”. Here, X is replaced by the amount and ‘destinataire’ is replaced by the recipient’s Twittter handle.

The S-Money app is available on iOS and Android and can be downloaded for free from the respective app stores. The service is great for a group of friends who intend to share expenses.

Send and Receive Money Anywhere with Payza

By Mohammed Waseem

UK based payments provider, Payza offers an e-wallet that is available and accessible in over 200 countries across the globe. Users can send and receive money and can load and withdraw it in many ways supported by the e-wallet. 21 currencies are supported, including USD, CAD, EUR, GBP, MYR, AUD, NZD and HKD among others.

With Payza, users can take the money around the world, without carrying it. They can also send and receive money from anywhere, at any time. In addition, they can pay for shopping online as well. This is so good that even if the ‘Pay with Payza” option is not available; payment can be made from the e-wallet online.

PayzaMost customers are happy with its speed of transfer between the wallet and bank account or a card. Users can load their Payza e-wallet through bank account transfer (where available), bank wire, credit card and debit card. Withdrawal can be done to a bank account, through bank wire and to the Payza Prepaid Card. Hundreds of local payment options are supported for loading and withdrawing funds from the Payza e-wallet.

Users can send money worldwide with Payza to multiple recipients. They can also send gifts of pay back a loan. In order to do this, they need the recipient’s email address, that’s it. They can also send money through a Payza authorized exchanger, including Cavirtex, EgoPay and EraChange. SimplySendBD is a new product Payza has launched for Bangladesh, that enables users in Bangladesh to receive funds from anywhere in the world. From the sender’s viewpoint, the product can be used to send money from anywhere in the world to Bangladesh. Apart from sending, users can request and receive money.

Payza Prepaid Card is available in USD and CAD and can be used anywhere Visa cards are accepted. It can be used just like a debit card or for withdrawing money from an ATM. A one-time fee is applicable for ordering the card, which is $19.95. Various fees applicable are: card load fee of $1 or ATM transaction fee between $2.5 an $3, inactivity fee (for 3 months of inactivity) of $1 charged monthly, over the counter withdrawal fee of $10, POS usage fee of $0.5 and foreign exchange fee of 2.5%. At present, prepaid cards are not being issued, but may be resumed in the future.

To use Payza, users should have a free account, load their wallet. They can start sending and receiving money right after that. No monthly fee or activation fee is applicable; sending money is free, but recipients may be charged a fee starting at 2.50 % + $0.25. The fees for adding funds are: bank wire fees, prepaid card fees and credit card fees. Withdrawal fees for bank wire and prepaid card are also applicable, apart from currency conversion fee of 2.5%. Most fees may be different for each country, and can be checked here.

Make Your Phone Your Wallet With Google Wallet

By Mohammed Waseem

We have heard about electronic wallets and also about few well known wallets in operation. But have we heard about Google Wallet? It is a product from Google which enables users to send money and make payments. It allows them to store money, as well as credit card and debit card information.

Google Wallet is a mobile payment system developed by Google, which allows users to store cards and redeem sales promotions on their mobile phones. Users can shop online, send money and even shop in stores with the wallet. The sales promotions and loyalty points from shopping can be redeemed at checkout while shopping with Google Wallet. It also supports international transfers and the higher limit per transaction in all cases is $10,000 which is quite good.

Google WalletContactless payment is also supported by the app and can be used in stores where contactless payment is available. The service is called ‘Tap and Pay’ which enables payment to be made without any effort, from the preferred payment method preselected. Wallet balance can be spent and withdrawn (at ATMs) using Google Wallet Card as well, which works like a debit card. Payments can be made by swiping cards at MasterCard locations.

Money can be sent to anyone in the US with an email address. To send money, a user needs to login to Gmail and compose an email addressed to the recipient and then select ‘Attach money’ from the email options. Transfers are free when money is being sent from the wallet balance. However, debit card and credit card transfers are charged at 2.9% per transaction (minimum $0.30). Money can be received for free and spent instantly after it has been received into the wallet balance. Instant notifications are also available, both to senders and receivers.

Online shopping can also be done using the wallet and payment can be made on mobile apps and sites in as few as two clicks. All the user has to do is select the ‘Buy with Google’ button. Android phones support automatic sign in to Google, which ensures speedy processing. Purchases can be tracked in one place with the Google Wallet app.

Google Wallet is the most widely used wallet due to the fact that almost everyone has a Google Account and all services offered by Google can be accessed from one single account.