Gifi Lets You Hide Money for Your Friends to Encourage Foursquare Check-ins

by Mercator Advisory Group 0

Gifi creates a scavenger hunt on steroids. Hide virtual money in physical locations in the Foursquare world for your friends to find. This Venmo application provides insight into what will happen as payment APIs become available to a broad range of software developers – payment solutions will spring up everywhere, limited only by the imagination, regulation, and the willingness of consumer to part with their money.

Payment service Venmo announced today that it has launched Gifi, its newest iPhone app that allows users to leave money at various Foursquare check-in locations for their friends to find. The app is available in the Apple app store now.

Users can link their bank accounts or credit cards to Gifi to leave money at any Foursquare check-in location, with the option of writing a clue for their friends to help find the hidden booty. Users can also write a message to the finder after they discover the cash.

Those on the receiving end of the money do not need Gifi. They only need to check in at Foursquare — though the company didn’t make clear how those users would receive the money outside of the Gifi app

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http://venturebeat.com/2010/09/27/gifi-hidden-booty-foursquare-techcrunch/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Venturebeat+%28VentureBeat%29