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ING DIRECT updated its iPhone app with the Bump functionality, allowing its Electric Orange Checking account customers to conduct Person2Person transactions. As a result, users can simply Bump two iPhones to securely send money to one another.
In order to start the transfer, Electric Orange customers enter a dollar amount into ING DIRECT’s mobile Person2Person Payment feature and “bump” their iPhones together to initiate an instant payment between two Electric Orange accounts. According to ING DIRECT, this makes it easy to pay a friend back for a meal and avoid the hassle of coming up with exact change.
ING’s research suggests that Person2Person Payment will increase 550% from two million in 2010 to 13 million in 2015. To prove the claim, ING cites its figures which show 200% annualized growth in mobile Person2Person Payment usage in Q1 2011 compared to the last quarter of 2010.
As a reminder, earlier we’ve seen PayPal adding Bump functionality to its iPhone and Android apps.
ING DIRECT (FREE) [iTunes link]
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
