Rift Pay Automatically Splits the Cost Between Multiple People
Michael Hemsworth — July 10, 2019 — Tech
References: riftpay.io & betalist
Sharing the cost of a meal or a purchase usually means having one person make the payment and being reimbursed by everyone else, but Rift Pay aims to help change this scenario. The payment app works by automatically splitting the cost of a meal, purchase or transaction between multiple users, while only requiring one person to complete the transaction. This means that the person making the purchase will only be charged for their share with the remainder of the required funds being sent in real-time from the others involved.
The Rift Pay app is perfect for splitting the cost of expenses when traveling or even between roommates to make the process of handling monthly bills far easier.
The Rift Pay app is perfect for splitting the cost of expenses when traveling or even between roommates to make the process of handling monthly bills far easier.
Trend Themes
1. Real-time Payment-splitting - Opportunity to disrupt traditional methods of splitting costs by providing a seamless and automated solution for real-time payment-splitting.
Industry Implications
1. Mobile Payment - Disruptive innovation opportunity in the mobile payment industry by offering a convenient way to split costs among multiple users.
2. Hospitality - Opportunity to revolutionize expense management in the hospitality industry, making it easier for travelers to split travel-related expenses.
3. Utilities - Potential disruptive innovation in the utilities industry by simplifying the process of splitting monthly bills among roommates.
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