By: iCopywriter Senior Editor, Heather Price-Wright
We all know that the worst thing about group outings, from ladies’ lunches to happy hour to big birthday dinners and beyond, comes at the end. Figuring out the tab, especially in this day and age, when no one carries cash, can be a massive headache.
Luckily, according to Mashable Tech, app-maker Bump has a solution to that and many other pesky payment problems. The company’s new app, Bump Pay, allows you to transfer money instantly by just “bumping” your smartphone against that of another Bump user. Basically, your phones high five, and the money moves from user to user. The money is transferred via PayPal, and the only fees you pay are those associated with your PayPal account; the app itself does not charge extra fees.
The original Bump app, which lets users transfer photos, contacts and other data between smartphones, has been around for awhile, as has the capability to pay via Bump, but only as a feature in the PayPal mobile app. However, Bump Pay as a standalone service is sure to open up the capability to far more users.
Wondering how Bump can work not just for tricky end-of-the-evening check-splitting situations, but also for your business? Here are a few scenarios in which Bump Pay could prove extremely helpful:
- Accepting payment at trade shows, fairs and other events
- Paying vendors or service providers from your business’ PayPal account
- Allowing for an additional form of payment from customers at your physical shop
- Eliminating fees from credit card companies by accepting payment in a more direct manner
Our biggest concern with this new app is, of course, security. After all, that’s your money and financial information swirling around in the cloud, just waiting to be bumped. On its FAQ page, Bump assures users that privacy and security are a chief concern and that information will never be shared unless users physically bump phones. However, we’re still a little leery of the whole thing, and will have to keep our eye out, should any security concerns come up as the app becomes more widely used.
Do you currently use Bump? Are you excited about Bump Pay, or worried about the security of your financial info? Let us know in the comments!
Have you checked out iCopywriter.com lately?