Forget about IOUs with new app Payfriendz

Do you ever find yourself out with friends, and neither of you have cash? Well, this new app Payfriendz makes that situation a lot less awkward, allowing you to make transfers to friends through your smartphone there and then, meaning no more IOUs.

To register for a Payfriendz account, all you need is a smartphone and a mobile phone number, and you can also send personal messages when you transfer money, so your friends can know exactly why you owe them that money.

Users can also safely use their Payfriendz balance when shopping online, due to an integrated virtual MasterCard service, which means it’s even easier to organise a group gift for a colleague or a birthday present for a friend.

Payfriendz will be available for download from the App Store and Google Play in the summer.