Monday, April 2, 2012

We Wish: Tabbedout's April 1st Mobile Cash Product

Ever wish you could just scan all those dollar bills stuffed in your wallet in to your mobile phone? That was the idea for Austin-based Tabbedout--at least, in their April 1st dreams. Tabbedout--in an April Fool's Day joke--said over the weekend that it had launched a new way to scan cash into their mobile payments app, making it possible for users to pay cash, not credit, to settle up their restaurant or bar tab. The firm jokingly said that a customer "holds their greenbacks up to the reader, aligns the president’s eyes with the infrared coordinates and waits for the cash to disintegrate into digital form". Ah, if it were only that easy. Tabbedout develops mobile apps which, in the real world, allow users to run up a restaurant or bar tab, and latter settle them--alas, only via credit card. The company is backed by New Enterprise Associates, Trellis Partners, and angels.