Social Media: PayDivvy Launches Group Payment Solution to Pay for Bills
- This group payment offer enables the users to visualise and pay for their bills through a single space. PayDivvy’s offering is set to divide up bills among room-mates or relatives.
- These e-invoices are expected to provide users with the possibility of paying more than 5,000 service providers with a unique bank account or credit card.
- Several options are proposed: a real-time dashboard (which resembles a Facebook wall), a solution designed to compare the bills to check on the evolution of the amounts over the instalments, the possibility to pay a friend or receive funds, the possibility to extend deadlines and even an insurance in case a bill has not been not paid for.
- PayDivvy has been in private beta version for six months and has already seduced several users. This service is free of charge and the registration can be performed in a very short time.
- The company managed to raise 1.5 million dollars from the Silicon Valley, Goldman Sachs and other first level investors.
- Group payment solutions are only getting started. The iPhone application mTip for instance can calculate the amount of a restaurant note and propose several options: tips, flexible and customised calculation, PayPal payment, sharing the amount of the bill, etc.
- PFM tools are increasingly perfected. The most efficient ones make it possible to follow recommendations from communities of users: Strands, for instance, provides benchmarks of equivalent expenses or savings profiles; and LoveMoney relies on pieces of advice from the community.