Twitter Takes On Apple, Facebook By Allowing Users In France To Transfer Money With Tweets
SAN FRANCISCO (CBS SF) -- Twitter is partnering with France's second-largest bank this week to allow its customers to transfer money with tweets.
Groupe BPCE announced last month it would start to offer person-to-person money transfers to French consumers regardless of what bank they or their recipient use, according to Reuters.
San Francisco-based Twitter is racing other Silicon Valley tech giants, like Apple and Facebook, to integrate online payments with social media while competing with banks and credit card issuers to create new payment services for mobile phones.
Payment by tweets will be managed by Group BPCE's current system, which allows money transfers via text message and relies on the credit-card industry's data security standards.
Twitter has already started trials of its own new service "Twitter Buy" to allow users to find and buy products through the social media network.
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