Twitter Inventor About To Launch His Next Project, Code-named Squirrel

Re:Twitter Inventor About To Launch His Next Project, Code-n... by johns on Saturday May 09, 2009 @12:18AM (#600714)

This could be killer if it lets you do person-to-person money transfers like PayPal. If my buddy can pay me back for the movie tickets I bought him earlier with his iPhone and have it go straight to my bank account, I would definitely use it. Obviously there are security and other barriers to overcome but it's not an impossible problem. You don't really need the hardware for this type of thing though.

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Re:Twitter Inventor About To Launch His Next Project, Code-n... by ajju on Saturday May 09, 2009 @02:41PM (#601236)

You are going to carry around an acorn like device for your iphone so you can swipe your buddy's credit card after you lend him money? And if he has his credit card why wouldn't he just pay for his tickets using the card?

I don't think this product is targeted at peer to peer money transfers for individuals. It's for businesses who want to charge customers. The pizza delivery guy or the taxi driver who, today, copies down your credit card number or "calls it in" for example.

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Re:Twitter Inventor About To Launch His Next Project, Code-n... by vaksel on Saturday May 09, 2009 @02:03AM (#600763)

why wouldn't your buddy just pay you in cash next time he saw you?

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Re:Twitter Inventor About To Launch His Next Project, Code-n... by GeneralMaximus on Saturday May 09, 2009 @02:34AM (#600782)

Your question can be answered by another question: why do we use credit cards? Why not use cash for everything?

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Re:Twitter Inventor About To Launch His Next Project, Code-n... by pj on Saturday May 09, 2009 @10:29AM (#600970)

Answer: Credit cards enable the user to live beyond his or her means and cash does not.

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Re:Twitter Inventor About To Launch His Next Project, Code-n... by FooBarWidget on Saturday May 09, 2009 @10:36AM (#600975)

I only use my credit card as a payment method. Most online shops don't accept anything but credit card, and sometimes I just don't have enough cash with me and don't want to bother walking to the closest ATM.

Credit cards allow you to loan money but I think that's ridiculous. I don't want to have a debt every time I buy something, I just want to pay immediately, with the money I already have, not with money that I don't have.

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Re:Twitter Inventor About To Launch His Next Project, Code-n... by jackchristopher on Saturday May 09, 2009 @02:09PM (#601196)

A benefit (of cash) is that it allows anonymity -- excluding the cashier of course.

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Re:Twitter Inventor About To Launch His Next Project, Code-n... by whatusername on Saturday May 09, 2009 @02:31AM (#600780)

Can't he do that from his bank website/app?

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