Thursday, 6 March 2014

IOU app helps to mix friends and money


Screen shots of QuicklyPay.It app

Splitting bills and other expenses with friends, flatmates and family members can often get awkward, but a new app by two Canberra developers aims to take this pain away!

QuicklyPay.it makes dealing with split payments - from a group of friends contributing to a birthday gift to flatmates sharing the power bill - quick, easy and secure. The app makes everything transparent so people can see in real time who has paid whom, and who still owes money, while messaging lends a personal touch.

The app allows users to pay their friends using a debit or credit card. Secured with a validated level one PCI DSS card processing provider and advanced encryption methods, Quicklypay.it securely transfers money between friends while protecting everyone's financial details.

As well as using a debit or credit card, the app is the first of its kind to allow people to pay friends using the digital currency, Bitcoin. Bitcoin holders simply type in their Bitcoin address or scan their Bitcoin QR code and Quicklypay.it sends the recipient the amount in Australian dollars.

QuicklyPay.it has been developed by local business Imagine Team. The project received support through the ACT Government's Innovation Connect grant program.

Zakaria Bouguettaya, one of the developers of QuicklyPay.it, said the idea for the app came about when he went for dinner with friends at a restaurant. As the restaurant had a policy against splitting bills, Bouguettaya ended up paying for everyone.

"The problem came about when I wanted to chase everyone up for payment. Individually, $20 wasn't worth an aggressive push to get the money back, but in total $120 wasn't something I could ignore," Bouguettaya said.

"I didn't want to be seen as a cheapskate, but at the same time I realised most of my friends had simply forgotten to pay me back. From there, my co-developer Andrew and I started to conceptualise an app that could manage these awkward social payment situations for you."

As well as providing the ability to transfer money, the app has a messaging feature meaning people can add the story behind a payment, discuss finer details and inject a bit of personality. QuicklyPay.it shows you when someone's seen your message, adding a layer of accountability.

The app also takes away the hassle and awkwardness of chasing people for money by sending automatic reminders. Group payments are highly transparent, notifying everyone when a person makes a payment in real time, acting as a reminder to others with an added element of peer pressure.

The QuicklyPay.it app is free and available to download for iOS and Android. To find out more visit the QuicklyPay.it websitExternal Link - opens in new window.

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