Blippy Lets the World See Your Every Credit Card Purchase
That seems to be the creative impetus behind Blippy, a new online service that allows users to publish their latest transactions, and see (and comment on) their friends' purchases, too. Think Facebook news feed meets credit card statement. It won't make your entire transaction history available for public discourse, only those made with a specific card: the 'Blippy Card' (So you needn't worry about purchases you'd rather keep between you and 1-900 number operators). As co-founder Phil Kaplan explains, the simple "question that Blippy answers is, 'What are your friends buying?'"
You could, theoretically, compare the prices you're paying to those that your friends are shelling out for the same product or service -- an extra layer of consumer "peer review" that would likely make the most ardent free marketers weak in the knees. Given all of the shrouded, behind-closed-doors financial trickery that fueled the recent financial crisis, greater economic transparency and openness seems to be the new black; it's logical that the trend would catch traction on the individual consumer level, as well.
Consumption is as social an activity as any other, albeit somewhat indirectly. You're not buying that Nabokov novel or new purse just for yourself. It's for your image, too, and what others see on your bookshelf or arm. At the same time, many people think personal finance -- like religion or politics -- isn't exactly fodder for dinnertable conversation. During tough times like these, however, everyone seems to be discussing money pretty freely -- maybe because everyone's worried. The fiscal benefits that Blippy could offer by giving a survey of where you can find the lowest prices (and connecting you with those that found them) would outweigh any latent hesitation. Will there be preening? Showboating? Of course. But that's what makes it even more socially intriguing, and it'd be fascinating to see if Blippy takes off. [From: TechCrunch]