Tap a Friend with Bump Pay for Cash

Bump technologies has developed its own mobile payment app which as you might have already guessed, uses the Bump app to enable phone-to-phone cash transactions via PayPal. Bump got the idea from ING Direct which used its API to set up a service that could transfer money within the ING Direct network. If you were to let your imagination run wild with what the app is capable off, you might see a more fun side of endeavors which are usually pain-staking such as splitting a bill at a restaurant and offering to pay for half a tank of gas in your buddy’s car.

The slight unsurprising hitch though is that both parties who want to use the service have to have the app installed before the transaction can be beamed across. The app which at launch is only for iOS is free and if the user has a checking account, they will be able to avoid extra fees. Until further notice, the app is not yet available for download by Android devices, but if we know Bump, it’s probably already in the making.