P2P SmartPhone Payments
If the future of money is digital, we need a quick way to exchange money between people, not just stores.
I love the idea of an E-Wallet. The only problem is it's only useful when you make purchases online or in stores. When it comes to paying from person to person, our options are still pretty limited.
Other than PayPal, there are virtually no effective ways to pay individuals, but even PayPal has a lot of limits, because the recipient needs to have a PayPal account and share their email address with you.
What we really need is a fast, and secure way to exchange money between people, without sharing card numbers, phone numbers, or even your email address with strangers. SmartPhones have the potential to make this happen, using the same tap to pay technology used when paying merchants. The only difference is that unlike a retail point of sale system, the sender would need to enter the amount on their phone, before starting the transaction. Just tap the phones and it's done.
Joe Crescenzi, Founder
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