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Share Money By Tapping Phones Together


by @AustinCarr on @FastCompany

More than a snazzy new feature, Bump Pay is the culmination of lessons learned by CEO David Lieb.

Bump, the app that lets users “bump” smartphones together to share contacts and photos, is launching another service to let users pay the same way. It’s called Bump Pay.

It’s a simple solution, powered by PayPal, and designed to solve the headache of splitting drink or dinner tabs. Similar solutions exist, includeing the one from Venmo and even PayPal’s own Bump-enabled app which came out in 2010. (ING Direct’s tech is also made possible by Bump.) But now Bump, an app that’s been downloaded by more than 80 million users, has decided to introduce a new app, rather than update its original.

“We certainly could have put it into the Bump app, and in the future, that’s not totally out of the question,” cofounder and CEO David Lieb tells Fast Company. “But we wanted to test this idea out as a separate app to see if Bump Pay is interesting and useful enough to people, rather than conflating it with Bump right now.”

Read complete story on FastCompany

 

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