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Money Transfer via Twitter Coming Soon

October 14, 2014 in Branchless Banking, Technology | Tags: , , , | by | 1 comment

> Posted by Jeffrey Riecke, Communications Associate, CFI

#187222016 / gettyimages.com

Twitter and Groupe BPCE, France’s second-largest bank, are teaming up to enable Twitter’s users to complete person-to-person money transfers using tweets. Payments on the service will be open to anyone in the country, not just Groupe BPCE users, and won’t require senders to know the recipient’s banking details to initiate a transaction. The payments will be managed by S-Money, Groupe BPCE’s mobile money unit.

The development comes amid a wave of new offerings from digital and internet-based payments providers, both newcomers and veterans. In 2012, Western Union experienced a 41 percent increase in online transactions. Venmo, the PayPal-owned smartphone app that integrates users’ social info, reached a transaction volume of US$ 468 million in the second quarter of this year, a 347 percent increase over last year’s Q2 figure. Last month, with a portion of users in the United States, Twitter also began testing its potential to be a retail marketplace with Twitter Buy. The platform update integrates a “buy button” into the tweets of companies selling products or services, harnessing the Twitter stream of tweets as an avenue for online window shopping.

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CFI Teams Up with Ashoka in Promoting Financial Inclusion

October 4, 2012 in Center for Financial Inclusion, Events, Financial Inclusion, Microfinance, Technology | Tags: , , , , , | by | Leave a comment

The following post by Natalie Zuniga was originally published on the Ashoka Changemakers’ blog with the title “Join @Changemakers and @G20Mexico on October 9th for a #SocEntChat about Global Financial Inclusion.” 

On October 9, 2012 from 11am to 1pm EST, Ashoka Changemakers will host a multilingual (English, Spanish, Portuguese) #SocEntChatabout promising solutions to achieve full financial inclusion. Experts and social entrepreneurs working in the field will convene and answer your questions during a Twitter-based discussion. Special guests Center for Financial Inclusion (@CFI_ACCION) and FINO (@Jatinhandoo) will join the conversation.

This #SocEntChat follows the closing of the entry period for the G2012 Mexico Financial Inclusion competition, which received 257 entries from 62 countries. Visit the competition page to check out solutions from around the world and to give social entrepreneurs your feedback.

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