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Now you can send money by a tweet – Banking with twitter & facebook!, 2014):  Social networks are supposed to connect people each other, create groups, discussions, sharing photos etc..but now the social networks are emerging as mini banking solutions – yes, in a recent development a france based bank made an agreement with social networking site twitter to transfer the fund via twitter platform.

In India, private sector lender Kotak Mahindra Bank (KMB) has launched a Facebook-based instant fund transfer service, which enable users to send money to friends on the social media network real-time, absolutely free.

At present, some lenders such as ICICI Bank allow fund transfers for their own account holders using Facebook.


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One comment

  1. How they are managing the security? how this entire process work? anyone please explain..or please include those details also in the post.