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 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.