Forgot cash? Fugheddaboudit

I was exposed to Obopay last night in class and have to say that this seems like it might be the next big thing…  As I understand it, Obopay allows users to pay eachother through their mobile phones.  Anyone can do it throughout any network and there is no banking required.  https://www.obopay.com/consumer/GetHelp.do?target=FAQSendNSpendMoneyPage

This is the holy grail for busting those friends that always seem to forget their wallets (ok, that’s usually me, and it’s not forgotten as much as buried in some couch cushion) – forgot the wallet, no problem, just send me your half of our dinner check via your phone… right now.  We were introduced to it through an international student in the class who had a conversation with a Norwegian bank that turned her onto an article about how Nokia will be white labeling this… slightly roundabout you might say.  Regardless, this seems like there might be many potential applications for this (ticketing, debt payments, etc…) as well as other players who might want to.

Deadbeats beware! You can pay now...

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5 thoughts on “Forgot cash? Fugheddaboudit

  1. Amy Rainey February 1, 2010 at 1:33 am Reply

    I’m also intrigued by Obopay and similar systems. For years, my friends who have Bank of America accounts have easily transferred money to each other (to pay each other back for trip expenses, pay their share of the rent, etc). But these mobile systems take things to a new level – a much easier, more immediate one. Similarly, I love getting paid for things through Paypal and loathe having to write checks. I look forward to the day when I pay my rent through Paypal or Obopay.

    • seattlekungfoolery February 2, 2010 at 5:45 am Reply

      I too hate Bank of America… oh wait, that’s not what you said. Yes, paypal is very nice. I’ve transferred within Wells Fargo to another customer – but there is no way to do this mobile-y. Obapay is the way to get around this until the banks wake up and starting colluding against us… Seems like an opportunity to charge us that they’re wasting!

  2. anitamedia February 2, 2010 at 4:31 am Reply

    It’s great to see companies like Obopay provide mobile banking solutions. A year ago Zain started mobile banking to over 100 million people in Africa with the launch of its new service, Zap. Europe has been using these types of service for quite some time. In the US Bank of America offers similar services. When do you think other US banks will catch up?

    • seattlekungfoolery February 2, 2010 at 5:42 am Reply

      I don’t know if the banks are what holds this up? Wells Fargo doesn’t offer this, and that’s where I bank – so I if you go out to dinner with someone and forget your wallet, you better hope you both have the same bank. Anita, you can forget your wallet if we go out to dinner. Thanks for comments!

  3. Melissa Bird-Vogel February 3, 2010 at 1:44 am Reply

    Thanks for following up on the whole mobile banking thing. I was really glad you did. I also thought the “opportunity to charge us” is what is currently missing before widespread bank adoption occurs. (I hate that!) (BofA sucks imho – switching accts to Chase)

    thanks again for info! 🙂

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