Tweet a transfer: Twitter explores new revenue streams

Twitter has inked a deal with French bank Groupe BPCE that will allow users to transfer money via tweets.

The deal between the French bank’s mobile payments arm S-Money will enable customers to transfer money with a tweet – without knowing the recipients bank details.

Customers will be allowed to use the service “regardless of their bank” in a push from Twitter to secure revenue outside of advertising.

Nicolas Chatillon, CEO of S-Money, said: “The ease of use and immediacy of the S-Money payment solution for individuals is perfectly adapted to the Twitter user experience. It 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.”

The extension of Twitter’s commercial offering follows its “buy now” button.

Facebook introduced a similar “buy now” feature in July and it is anticipated it will introduce a payments feature for its messenger app.