One-fourth to one-third of adults now use their mobile phones to make peer-to-peer payments, such as through Venmo or PayPal. But there’s one big drawback: To pay someone using these cash apps, you must exchange some sort of personal information so the payment can be sent.
But a new cash app called Mezu, created by a Cleveland company, is launching today. It requires no email or phone number or any other personal information to be exchanged when giving or getting money. Instead, the transaction is conducted with an encrypted four-digit code or by scanning a QR (quick response) code on the other person’s phone.
Click here to read the complete article. Story excerpt provided by The Plain Dealer. Written by Teresa Dixon Murray. Originally published June 13, 2018. See related article in Crain’s Cleveland Business.