short review…

cool app!

This niche seems to be filling up quite quickly. Do people really owe others that much or often? I must live in a different world.

Harry “an island” Wang

Um, what about paypal? Kind of a large one isn’t it?

Also, kushcash and textpayme.

So, with 6 competitors, all of which have been live for sometime, I fail to see how their handling of different currencies (possibly unique) is a significant differentiator that could not be easily copied.

good luck

Is this a first year computer science project? It has to be. So simple.

Hi,

I’d also like to mention http://what.io/

It is a simple website to keep track of your IOUs. Works great as a facebook app and as a standalone website.

It also goes the extra step which allows users to print official looking PDF certificates of ownerships to give to their friends.

give it a try,

r.S.

It’s difficult to create a business around the strictly P2P piece as has been observed here. Mpayy has it, but we give it away for free.

We do have a Mobile Merchant model at https://www.mpayy.com/info/mobileMerchantInfo.do which provides for Guaranteed Payments and 0% fraud liability.

The idea there is that 14 million direct salespeople are doing $30 billion in sales per year, plus the potential for taxicabs, vendors at concerts, etc. Instead of needing a new piece of technology for a Mobile Point of Sale system, we transform any web-enabled cell phone into a cash register.

This idea reminds me of the web site that allows people in adjoining public bathroom stalls to divide up and share a single roll of toilet paper. Basically, if there are 75 sheets remaining on your toilet paper roll, and you’re in the middle stall, you have to give 25 sheets to the stalls to your left and right if they ask you for it (which means that they are out of paper). The app can be downloaded to your “Palm” using a pen and simply writing out the math on your hand. The founders of TPshare.com note that toilet paper, at least in public restrooms is a shared resource and hope to make the allocation of this resource more fair. Sheryl Crow is an adviser to the company and has advocated for a strict 1 sheet limit per person.

Hi,

I’d like to mention http://www.shortreckonings.com
It is less ambitious than Scred but focuses on being very fast and trivial to use:
* You don’t need to register to use it;
* You can create your expense sheet immediately from the home page;
* The heart of the tool is its “debt reconcile” algorithm: you enter who paid for what and for whom, and Short Reckonings calculates the fewest number of payments needed to reconcile the debts.
* The user interface is fully Web 2.0 (it is built on Yahoo’s YUI open-source library), including keyboard shortcuts for fast expense entry;

No social networking features, no mobile Java edition, but a version optimized for the iPhone is in the plans.

Enjoy!

did anyone mention http://www.snappystuff.com??

@Trace Johnson, It is interesting to see companies popping up to compete with Paypal. Revolution Money is also a competitor of Mpayy for P2P, though their go-to-market is slightly different. RM intends to get transactions fees down to 0.5% +X for the merchant.

It is interesting to note that PayPal emerged by solving a problem for the consumer (Ebay sales). Both Mpayy and RM fail to provide any value to the consumer that is not already addressed.

The financial industry is ripe for disruption, but nobody seems to have fiigured out how to do it yet (PayPal jumped in bed with MC, and quit disrupting).

Tough market, good luck.

Nice to see the first Finnish startup in Techcrunch since Jaiku! There are quite a few interesting small startups popping up here in north.

Check out http://www.sumpli.com (Finnish evite), floobs.com and a fresh blog covering the finnish scene - arcticstartup.com.

Here’s another one that does the trick:
http://www.costshare.net

These app do make life alot easier for roommates. Not sure how much this is needed outside of that though.

@sky, if only it was so simple. You’re right that a simple version of this can be created in a weekend or two, but if you want something that will scale to the services we already have and are planning to do, you need to think a bit more about what is going on under the hood. Doing currencies well, having a scalable database and building a real offline mobile client (which nobody else has) are all tasks which take time and planning. Our first working version was created quickly, and we have used the term ’scred’ internally for years for small systems like this, but it has taken us months of non-stop work to reach where we are at the moment, and this is just the beginning.

We are not perfect, but our platform does things nobody else does right now, and built in a relatively short time. Believe me, development work is far from stopping.

And on Paypal and others: we don’t see them as a competitors right now. Quite the opposite, in fact. We’d really like to partner with PayPal and mpayy to do some of the things we are looking at. So let’s talk

There are other interesting Finnish start-ups that didn’t show up at Next Web conference. You can find them at http://www.arcticstartup.com/ or http://www.startupbin.com/

If you don’t want to sign in, checkout mine.

http://www.screeperzone.com/ex…..harer.html

there is no signup or data that is stored on the internet.

sorry.. the link is

http://www.screeperzone.com/ex.....harer.html

A really great tool for this is fliff — really simple and smooth, and integrated with paypal. Works on facebook.

http://fliff.tv