Singapore banks eye Facebook IDs for transfers

SingaporeFT — Banks in Singapore are collaborating on a new service that would allow customers to make payments using Facebook IDs or Twitter username. The system will allow electronic transfers between account holders who have registered their social media identities with their banks, allowing users to make payments by selecting the payee’s Facebook ID instead of typing in an account number and sort code.

http://www.ft.com/cms/s/0/b2dd2cd8-3f39-11e6-8716-a4a71e8140b0.html#axzz4DP34R7EU

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