Designed to solve the headache of splitting drink or dinner tabs, and powered by PayPal, enter Bump Pay. Similar solutions exist, including one from Venmo and even PayPal's own Bump-enabled app, but now Bump has decided to introduce a new app, rather than update its original.

The Bump Pay app functions much like its predecessor Bump, which lets users "bump" smartphones together to share contacts and photos. Bump Pay allows users to pay the same way.

The app team spent a lot of time cutting feature after feature to keep the service down to a core set of simple tools.To avoid the issue of radically changing the core Bump app, Bump Pay's team decided to launch this as a standalone app, under the umbrella of what the startup is calling Bump Labs.