Twitter readying money transfer service for France

The social network and micro blogging platform is partnering with French banking group BPCE on a new feature which will let users tweet cash to each other.

The social network and micro blogging platform is partnering with French banking group BPCE on a new feature which will let users tweet cash to each other.

The service, which has already been attracting headlines in France in the lead up to its official launch, is expected to be unveiled officially at a press event in Paris on Tuesday.

The bank in question, Banque Populaire et Caisse d'Epargne, (BPCE) has been less than shy in discussing what it has planned -- a service that will enable any two people with a bank account and a linked Twitter account to send and receive money from each other.

The service hinges on a platform called S-Money developed by BPCE that also includes a digital wallet.

'This initiative is a good example of our innovation strategy regarding payments. Groupe BPCE is the first banking group to offer individuals a payment solution where they can transfer money with a simple Tweet. This S-Money initiative opens up a whole new range of payment possibilities on the social networks.'

BPCE customers have been able to preview the feature since mid-September, in advance of its official roll-out.

Twitter is looking for ways to extend its reach, popularity and of course its revenues. It is already experimenting with a 'buy' button that will enable users to purchase items that are linked in tweets and earlier this year partnered with Amazon in the US and UK on a Tweet to Basket service that adds products featured on Twitter to be added to Amazon account holders' wish lists and shopping carts.