A new app called Ok’d hopes to make it easier than ever to get other people to pay for your purchases, be they work expenses, gifts for friends or from parents.
Ok’d was launched this week at Disrupt NY 2013 and allows users to send money to anyone that has a mobile phone, even if they don’t have a bank account.
Say for example, you are wandering around Urban Outfitters and see a dress you like. You take a snap of it and send it, along with the price, to your sponsor.
Your sponsor receives the message and can then choose to donate none, all or part of the money required to purchase the item.
Funding is received as a voucher code redeemable only at the store in question which can be presented to the cashier.
What’s nice about Ok’d is that there is no transfer of credit card details between sponsor and recipient making it a more secure way for parents, friends, spouses or even employers to sponsor your purchase.
The new app could also be an effective way of making “group” purchases and avoid having to hassle friends for a few dollars each.
The only security concern that I could foresee with Ok’d is if a user’s phone was stolen. The thief could then request funding for products in a store while masquerading as you. Given that funding requires approval from the benefactor, the risk here seems pretty low.
For more information on Ok’d, check out the website.