Payments Watch

BillMonk announced the release of a new feature they call debt shuffling. It’s like net settlement for a group of people (e.g. a social or person to person network of friends). Makes one wonder why the concept of net settlement cannot be implemented at the individual business and person level.
Read more »

Wow this didn’t take long - social finance site Buxfer has added peer to peer payments to its list of features by using Amazon’s new Flexible Payments Service (FPS). Hmmm, I wonder if they had access to some early Beta’s??? …I suppose it is only fitting that a first class application of Amazon’s FPS would be implemented at Internet speed.
Read more »

Without even touching on the social aspects of Wesabe, the basic personal finance tracking is very impressive. As a web based application, it may surprise you how easy it is to track your transactions, and in my own humble opinion, the (at times self learning) tagging mechanism makes it superior to such desktop products as Quicken.
Read more »

You would like to track your spending, share your experiences with money, get help and help others in a community setting. You want to do this because you would like to make better financial decisions leveraging the experience of others. Welcome to the world of social finance - the web 2.0 version of personal finance tracking. There are several sites out there to help you achieve these goals. What follows are instructions on how to get started by setting yourself up on the popular Wesabe site.
Read more »

Social finance sites such as Wesabe are not just web based applications that allow users to track spending, but provide personalized advice such as feedback from peers that specifically addresses one’s specific spending and saving patterns. They also provide an interesting opportunity for improving upon, and creating more timely payments studies such as the Federal Reserve’s Retail Payments Research Project.
Read more »