Payments

Glassjar: Group Payments Made Easier and Fun With Gamification

MEDICI

It is not an uncommon scene in restaurants and bars in America that one bill is paid by five to six different credit cards. Sometimes, restaurants don’t accept more than two cards for a bill. This creates a problem in equally splitting the bills amongst friends and colleagues. It is also not uncommon when few friends leave early and the last ones to leave have to pay the whole bill. Roommates have similar problems while paying the monthly rent and miscellaneous bills for their apartment.

Founded in 2013 by two young men from New Zealand, Glassjar is a free mobile app that solves group payment problems for Americans. Glassjar makes group payments and splitting bills amongst multiple people easier, convenient and hassle-free. Their main goal is “to resolve conflicts over money and make awesomeness occur.” In this app, one can easily create a new “Glassjar” while hanging out with a group of friends at a restaurant, bar or any other place. Examples of different Glassjars are restaurants bills, theatre/movie bills, bar bills and apartment expenses. The transactions are smooth and are powered by Venmo, which is a mobile app for making and sharing payments. Once the Glassjar is filled, the money is transferred to the user’s Venmo account. There are similar solutions offered in the app store market but Glassjar is fun and different in a way that it has a “roulette” game feature within the app, which lets the users play roulette amongst their friends. The person who loses the game has to pay for the next round of drinks.

George Smith, Co-founder and CEO at Glassjar is a civil engineer by education and Matt Galloway, Co-founder and CTO at Glassjar is the coder behind developing the mobile app. There are a team of five people at Glassjar who have successfully developed the Android app, and the iOS app is stated to come soon to the App Store. The company is based in Silicon Valley and has received $120,000 in seed funding from Y Combinator. The startup has also received $200,000 in seed funding from NZ Venture Investment Fund and Sparkbox Ventures.

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MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI team who collaborate to create FinTech insights.

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