The Cookies app allows people in Germany to easily send each other sums of money. While popular peer-to-peer payment platforms including Facebook Messenger payments and Venmo are gaining traction in the United States, such services aren't available in all countries. This gives the German startup a European edge, as it is available now before these other offerings make their way over the Atlantic and beyond.
Described as "blazingly fast, simple and secure," the Cookies app lets friends send each other funds through text message-like instant messaging. Based in Berlin, the mobile application is completely free to use, which also provides an alternative to ATM or e-transfer fees. In addition to sending and requesting finances, you can use the app to check balances, make group payments and quick payments. It's also compatible with all banks.
What's Driving This Trend
- Peer-to-peer Payment Platforms
- Disruptive innovation opportunity: Develop a peer-to-peer payment app that is not restricted to a specific country.
- Instant Messaging Money Transfer
- Disruptive innovation opportunity: Create an instant messaging platform that allows users to send money to their contacts.
- Free Mobile Payment Apps
- Disruptive innovation opportunity: Build a mobile payment app that is completely free to use, providing an alternative to traditional banking fees.
Who This Affects Most
- Fintech
- Disruptive innovation opportunity: Revolutionize the finance industry by creating innovative mobile payment solutions.
- Mobile Banking
- Disruptive innovation opportunity: Transform the banking industry by developing secure and user-friendly mobile payment apps.
- Messaging Apps
- Disruptive innovation opportunity: Disrupt the communication industry by integrating money transfer features into messaging apps.
