Hello-hello!
I’ve got a wonderful idea that I have seen everywhere but in Canada for some reason (and I don’t really know why).
The idea is to make a feature for Neo Money accounts to leverage NFC technology for Neo Clients to transfer money seamlessly by tapping their phones together (like sharing contacts with iPhone).
Why is this important? There’s already an ability to send money quite easy, but this feature could be groundbreaking for Canada. While digital transfers are convenient (e-transfers, sending money through the contacts with Neo), they often lack the simplicity and speed required in fast-paced, everyday interactions like splitting a bill or paying someone on the spot.
This feature could be called “Tap To Transfer” and it enables NFC transfers with Neo Money card.
It may or may not require people logged in the app (implementation inside of the app could be easier to do rather than outside of the app with Apple Wallet or Google Pay, since those services also have to be adapted in Canada).
Tapping the phones would initiate a secure connection between the two devices that would confirm both of Neo Clients, the amount to be transferred would be inputted and button “Pay” would finish the payment and send the money to other person’s Neo Money account.
Use cases?
- Splitting bills
- Paying someone back for small expenses
- Making peer-to-peer payments in social environments
- Losing the 20$ bet and sending money instantly
- Gifting or donating
- Micro-transactions
- Marketplace in-person transactions
- Carpooling/ride sharing (paying for fuel, etc.)
Security measures? Face ID, fingerprint, being logged in the app.
Benefits? Creates FOMO regarding this cool feature that nobody has, increased usage and more clients encouraged to use Neo because of how easy it is to do money transfers, it appeals to younger customers, frictionless experience.
Please let me know your feedback, I would love to brainstorm around this idea!