French bank BPCE to launch Twitter-based payments service

French bank BPCE has said that will launch Twitter-based person-to-person payments service next month.

French bank BPCE has said that will launch Twitter-based person-to-person (P2P) payments service next month.

This service has been developed by S-money, the electronic money subsidiary of the bank that provides an electronic wallet solution on mobile phones.

The service will enable BPCE customers to tweet money to any other French bank account holder, even if the recipient does not bank with BPCE.

There will be no need to fill in a recipient’s bank details.

Though very limited details are available on how the system will function, but S-Money’s mobile wallet has been integrated with the social network so that clients can transfer money to recipients through their Twitter handle.

BPCE CEO Jean-Yves Forel said: “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.”

Twitter France CEO Olivier Gonzalez said: “We warmly welcome this innovation developed by Groupe BPCE and the service it provides to Twitter users in France by integrating its S-Money service into a live, public, conversational dimension characteristic of Twitter.”