Repayment Via Mobile-phone
Imagine this situation that anyone who’s had dinner with a friend can relate to: the moment the bill is presented, you reach into your pocket and suddenly realized that you changed trousers before going out while wallet still on that one’s. Worse still, the restaurant only accepts cash and your friend only with credit cards. You two look at each other helplessly, couldn’t decide whether to draw money or call another friend. I don’t have to tell how embarrassing it feels because blushing face tells everything.
A thoughtful app for those urban professional twenty something has rushed out. It intrinsically understands young peoples’ spending habits when they’re out with friends. They share cabs, buy each other snacks, and above all, they go out to dinner with friends multiple times a week. The app empowers users to instantly wire money to their friends’ accounts through mobile phone. Plus no fees charged to receive money or make payments from debit cards or bank transfers. Just download, link up debit card, find friends, and you’re ready to go.
All data is sent over a 256-bit encrypted connection and transactions are protected by the Federal Deposit Insurance Corporation, so you can just bank on it.
For now, this app is mainly used in paying your friends, because its use of existing social networks. However, it may inspire other manufacturers to follow suit, resulting in a market with a wide variety of possibilities to choose from. If you can’t beat ’em, join ’em, right?