Bump Pay will let users exchange money by bumping smartphones

30.03.2012

As for the security of the app, Silva noted that some Bump Pay users could claim that they had accidentally tapped another person's phone, and thus attempt to recoup their funds. "There's a risk, but it's almost completely borne by the credit card issuers and the banks who are going to be stuck arbitrating those disputes."

Bump Pay will compete with , and , among other companies.

Bump Pay is initially available only for the iPhone.

The IDG News Service