How many times are you out with a friend and they say I am covering this, and you say I will pay next time. When the next time comes you realize you do not have your credit card and about enough cash for a small coffee. Your friend covers to pay for your dinner, but you are adamant that you are paying her back. Now you can, right away! No need to send her a check in the mail, wait until you see her next, or send her a check through your checking account.

You can now use the Bump to Pay app on your phone (iOS devices). The app uses PayPal for the transaction, so you need to have a PayPal account set up that will take money out of your checking account. You can then select the amount you want to share with a friend and Bump your phones to make the money transfer.

As long as it is truly secure, then it is definitely an app individuals will use. Hopefully they will expand to other smart phones. For now, anyone with an iPhone has no excuse for not covering their own tab.

Has anyone tried it? I always like to hear what others think before I use apps that require connecting to my credit card or checking account, but it does sound convenient. What else will they think of?! What apps have you thought of that do not yet exist?