Monday, 13 October 2014

Hi Dad! Can you please tweet me some money?

Picture Courtesy: Reuters
Social Media is making life simple everyday. Not only can you advertise to the world what a cool life you lead, now you can even borrow money from Bank Of Dad via a simple tweet. God bless social media!  

This week, Groupe BPCE, France’s second largest bank announced that it is teaming up with Twitter to allow its customers transfer money via tweets. The service known as S-money offers Twitter users in France a new way to send money to each other, irrespective of their bank and without having to enter the beneficiary’s bank details, with a simple tweet. S-Money service allows money transfer via text message and relies on the credit card industry’s data security standards. 

The news comes close in the heels of their previous announcement about incorporating ‘buy buttons’ that let people make purchases directly from marketing posts. 

With decline in user growth and jittery investors breathing down their neck, it seems like Twitter is pulling out all stops to win the race by enhancing value to advertisers as well as focussing on non ad revenue focused strategy. Looking forward to more of these innovations from Twitter.   

Source: TOI 
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