Have You Heard Of Visa's New Mobile To Mobile Service That Allows You To Borrow & Send Money From Friends And Relatives?

Are you one of those who is always inclined to lend small amounts of money from a £1 or £2 to a fiver here, a tenner there and even more here and there only to be frustrated soul when your money is NEVER returned and friendships are strained. Then read on because VISA claims to have found a new revolutionary repayment service on how to successfully borrow or lend to close next of kin or friends and vice versa. How?
Apparently the money can simply be transferred to anybody listed in your mobile phone address book. This facility will be available from next year initially ONLY on an Android-based smartphone (not an iPhone), and download the app. The i-Phone will be subsequently facilitated.
Personally, I would personally NEVER be convinced into using it because I fear it will lead to mass victims of electronic fraud from highly unscrupulous criminals. I would not touch with a bargepole to be a part of VISA's new service and also due to moral behavioural decency. For instance, if you lend money or are owed you have a moral duty to pay back or be paid back in person whether via cash or cheque. If anything, this so called new revolutionary service will encourage some people to borrow and borrow from this friend and that friend via mobile payment after mobile payment and then "forget" all about it. Some people could potentially make a profitable business out of this on the back of others' misery and I wouldn't advocate it.