Like Facebook, Twitter has been coming together with various online retailers to offer its users a number of different payment options and other integrated functionality. Amazon allows users to add products to shopping carts and items to wish lists from directly on Twitter using dedicated hashtags. Twitter also already introduced “Buy Now” buttons directly on Tweets for particular products including those from Burberry and Nike, among others.
Now Twitter is introducing direct user-to-user payments in a partnership with French bank BPCE. The service, known as S-money, was launched about a month ago and starting tomorrow will be available for all French residents.
While not many details are known about how the service works, it essentially allows for Twitter users to send money to each other without the need to exchange any particular banking details, no mater which bank they might use. According to reports, the technology allows for money transfers via text messages using the credit card industry security standards. There doesn’t appear to be any details (yet) on whether or not this type of service would eventually be made available in the US. So far Twitter hasn’t actually had a hand in any actual commerce when it comes to its payments/retail partnerships, but instead acted as the middleman to drive traffic. So, as some suggested, that will likely be the case with the S-money payments.
In a recent statement, Nicolas Chatillon, the chief executive of S-Money at BPCE, said, “(S-Money) offers Twitter users in France a new way to send each other money, irrespective of their bank and without having to enter the beneficiary's bank details, with a simple tweet.”