‘Beem It’ the free instant payment and bill-splitting app for Aussies

In an Australian first, CBA, NAB and Westpac have collaborated to launch Beem It – a new instant payment app that allows you to pay, request and split bills with anyone, regardless of who they bank with.

The free app is designed to help Aussies get back in the black, and has hit the market following research that revealed more than half (68 per cent) of Australians have lent money to a mate and never got it back.

Beem It removes the hassle and awkwardness of having to ask for money back, by allowing users to split bills, transfer and access money in their bank accounts within 10 seconds.

Beem It CEO, Mark Wood, said: “We know that carrying sufficient cash or paying people back via bank transfer is laborious, often leaving people out of pocket and getting in the way of memorable life moments.

Unlike using cash or bank apps, Beem It is a brand new, instant person-to-person payment experience for all Australians, that removes money from the moment and aims to help Aussies avoid awkward conversations about money with only a few taps in the app.”

Designed as a modern, interactive way to pay, request and split bills between friends, Beem It incorporates bright colours and personalised usernames as part of its user-interface. Emojis can also be incorporated into transaction descriptions. Each transaction requires only seven taps and a swipe from initiation to completion, with usernames used to send and request money instead of BSB or Account Numbers.

Beem It is built on EFTPOS and global debit card scheme payment platforms to enable instant and secure payments for all Australians, regardless of who they bank with. The app was built by a hand-picked, customer focused product development team and bank-grade security experts, in Sydney. Beem It uses bank-level security and encryption, with each transaction authenticated and subject to real time fraud monitoring.

Signing up to Beem It
Beem It is available to download in the iOS and Android app stores. Once users have downloaded the app, there is a short registration process where they provide a mobile number, email address, valid form of ID (drivers licence,passport or Medicare card) and link an Australian debit Visa or Mastercard®. Two small transactions, which are instantly refunded, are used to validate the account. Once signed up users can link multiple debit cards to the Beem It app.

For more information on Beem It visit beemit.com.au