We’ve been seeing a lot of ‘instant pay’ applications and bank account transactions through mobile devices. Whether through Paypal, or through your bank, instant payments and depositing checks have gotten much easier (and lets you skip a trip to the bank). Now, there’s a new app called Bump Pay from Bump that allows you to pay friends just by tapping 2 iPhones together. The user enters the appropriate value, and then bumps the second user’s phone to transfer payments! This would be a great app for when you’re out to dinner with a group of friends and need to split the check; problem solved!

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