If you thought Snapchat was just a tool for teenagers to send cheeky pictures to one another and have them quickly disappear, then think again.
Instead of only sending ephemeral photos to your friends, you can now send them cash, too – and no, the cash won’t disappear after 10 seconds.
The new cash sending service is called Snapcash and is part of a new partnership with Square. As you may know, Square is no stranger to mobile payments, as they already offer a similar service. A very clever move by Snapchat.
The new service was announced in blogpost on Snapchat’s website yesterday.
Using Snapcash is pretty straightforward. It also helps that the service is integrated into the existing Snapchat app, which of course eliminates the need for users to download a separate app – they can just start sending cash straight away. (more…)
Nowadays, personal finance management tools are popping up everywhere. Tools to better manage your money while carefully keeping track of your spending. The only problem is that these tools aren’t always integrated, which means you need a bucket-load of tools – or in the case of the digital word, apps – to successfully manage your spending and save money at the same time.
But now there has been a breakthrough innovation on the world of personal finance management that is set to change the way we think and use money – and their local, too.
Bsavi is a new personal finance startup based in Cape Town that is set out to disrupt and reinvent the global financial ecosystem. The company has developed an app that acts as a money management tool that will essentially help people plan their spending and save money on a daily basis.
While there are many conventional budgeting apps available, Bsavi is a ‘spend management’ tool that will show users, in detail, how much they can afford to spend on a daily basis after all of their fixed expenses have been accounted for.
As most of us would know, when pay day rolls around, we are in cloud nine. However, come the 15th of the month, and we’re already panicking about what we’re going to do for the rest of the month because we’re already broke. This is where Bsavi steps in, to minimize (and eventually completely eradicate) this awful panic. (more…)
Last night’s Apple event might not have been as exciting as their September event, but the company still introduced us to a new line of iPads and a beautiful, 5K display iMac.
They also announced the launch date of the highly anticipated Apple Pay payment system, which is set to revolutionize the way we pay for products and services.
Tim Cook & Co. announced that Apple Pay will launch on Monday, October 20th on conjunction with the roll out of iOS 8.1.
iOS 8.1 may even been more anticipated than Apple Pay after the software update was plagued with numerous bugs in its first update. iOS 8.1, however will bring the Apple Pay service to certain devices with the update.
Along with announcing the launch date of the service, the company also announced they have successfully signed up an additional 500 banks which will support Apple Pay – a further testament to the service’s unique lure. (more…)
if you needed any more proof that social networks are quickly entering the realm of mobile, peer-to-peer payments, then you need not look further than this latest partnership.
The world’s second largest social network, Twitter, has partnered with France’s second largest bank – Groupe BPCE – to essentially allow users to transfer money through their tweets.
BPCE made an announcement last month, saying that they will be partnering with Twitter in a new mobile payment service, but that details of how the service will work will all be revealed when it is launched.
And today is that day. At a press conference this morning, the social giant and the bank unveiled how their new service ill work and what it means for French Twitter users.
Firstly, the new service will tie in with BPCE’s existing mobile payment system called S-Money. Before the Twitter integration, S-Money allowed users to send money to their peers via text message. Now that service is essentially getting an upgrade with the Twitter integration.
The service is currently only available for users with French cellphone numbers and bank accounts, but is not limited to those who have a bank account with BPCE. (more…)
Nowadays we have so many cards we need to carry industrial sized wallets with us. From debit cards to credit cards, gift cards and access cards – it’s all a little too much.
Wouldn’t it be great (for security and our sanity) if all our cards could be linked to one? Of course it would – and that is exactly what Plastc card wants to do.
Plastc card is a ‘smart card’ that can hold up to 20 different cards in its system. All you have to do, is load your array of cards onto Plastc and then store them there, electronically.
Much like the concept of Coin – that can hold 8 cards and let you choose between them – Plastc card also allows you to choose which card you would like to use by simply swiping on the card’s touch screen, or E-ink display, to select the one you want.
Plastc also has NFC and EMV technology capabilities, which of course accompanies the more secure chip reader cards, rather than the less secure, outdated magnetic strips. (more…)
Facebook wants to be more than just your go-to social network and platform for talking to your friends. It seems that the social giant now also wants to be your preferred platform for sending money to your friends – well at least when they enable their newly unearthed mobile payments feature.
Andrew Aude is a computer science student from Stanford University who brought Facebook’s plans for mobile payment to light after he hacked the code of Facebook Messenger and discovered the new feature.
Aude, who posted screenshots and a video of the feature in action on Twitter, used Cycript – a iOS and Mac hacking tool – to enable the feature on his jailbroken iPhone.
As the screenshots and video show, the mobile payments feature allows you to send money to your friends in Messenger, just as you would send a photo or video.
Aude says the entire process is fairly simple. You simply tap a button to start the payment process, select the amount and hot send. Easy and fast – apparently. (more…)
Apple really hit it out of the park with their event last night. Along with finally announcing the much anticipated iPhone 6 and iPhone 6 Plus as well as the swoon-worthy Apple Watch, the company also announced an all new service that will allow for mobile payments called Apple Pay.
Apple Pay is a mobile payment platform, that will in essence, allow you to make payments straight from your iPhone through the Apple Pay service.
The main goal with Apple Pay, as Tim Cook announced last night, is to make credit and debit card payments more secure – and of course easier and more efficient.
Cook started by saying that their goal is to eliminate the ‘fairly antiquated’ process of paying by card. He emphasized the fact that current credit or debit card payments are not as secure as we think. Magnetic strip cards are outdated and highly susceptible to fraud. While most of us have a chip card nowadays, these are also not as secure as they should be.
That is why the safest, most secure and most streamlined way of paying is mobile payments. As Cook said, with the current way of paying with physical credit cards, we are “totally reliant on exposed numbers”.
Apple Pay incorporates NFC technology to make the payments more secure. But besides the inner workings of Apple Pay, how it works (in layman’s terms to you and me) is quite simple. (more…)
Online shopping has become many a customer’s first choice of access when it comes to purchasing. Unfortunately due to security concerns and legislation it sometimes takes quite a while to get through the “Checkout” counter on any given website. The experience is sometimes similar to a day at the department of home affairs. To make this process not only super quick but also easy and secure MasterCard introduced MasterPass to the South African public yesterday.
According to the MasterCard press release: “MasterPass enables consumers to make convenient, simple, fast and secure digital payments. Digital wallets accessible through the MasterPass acceptance network allow consumers to store all their MasterCard or other branded credit, debit or cheque card information, and shipping and billing address details securely in one place. This gives them the ability to make secure online payments without the repeated hassle of entering these details each time.” (more…)