ING Direct customers can now transfer payments to a friend’s account with a bump of their iPhone.
Once logged into their account, users can simply tap their phones together to exchange account information. Bump Technology is used to identify the account holders in the transaction, and eliminates the need to enter and verify account numbers.
Future developments to the application and implementation by other banks will make for an easy and fun way to pay for your share of the lunch bill, or pay back the $20 you owe for losing a bet between friends.
Insight
Much like online banking a few years back, smartphones are now making it easier for consumers to perform financial transactions on-the-go.
