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Simple teases iPhone instant personal money transfers with MoneyDrop


A group of us here at TUAW are huge fans (and customers) of Simple -- it's an online bank that revolves around a debit card linked to a powerful, free iPhone app. On Wednesday, the company announced an upcoming feature for those who are using iPhone 4S and newer devices -- MoneyDrop.

MoneyDrop will make it very easy for Simple customers to send money to each other, instantaneously and with no fees involved. Rather than using email addresses or account names, MoneyDrop uses Bluetooth LE to identify Simple users near you, at which time you can use an AirDrop-like interface to shift money to those people. It's a great way to split lunch bills or buy a used car -- just as long as the other parties are also SImple customers.

Simple currently has only about 65,000 customers, with 100,000 on a wait list and thousands of invitations being sent out every week. Simple says that MoneyDrop will become available in "the next few months," another step on the way to a cashless society.

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