Billmonk Has A Half Brother

Next Story

First Look: Helio Heat

buxferlogo.pngSocial/mobile payments site Billmonk had a mini merger with competitor Obopay last month (we called it a “battle for relevance” since PayPal has a strong product offering in the mobile space as well). Buxfer is another social money Y Combinator funded company that softly launched last September. It provides the same basic functionality of Billmonk, such as keeping a running total of debts and credits with your friends (only money), but has grown up a little and added some nice data visualization.

buxferscreen.pngBuxfer is deeper than Billmonk, letting you track and tag out your expenses with friends and groups over time. The groups option makes it great for managing debts between roommates or within a club. Billmonk is more geared to managing splitting debts between friends and lending out your stuff. Buxfer goes further, letting you analyze you expenses over time through a Google finance-style pie chart with adjustable time frame. Buxfer has gone to great lengths to make importing transactions as easy as possible. They currently support adding transactions to your account via SMS and the ability to import your credit card statements (.csv,.qfx,.ofx). From there you can tag and divide up your expenses as you see fit.

What’s great is that these sites start with a simple day-to-day problem that can frustrates us all and present a solution. However, without intimate integration with payment services, it’s still a chore. I’m not so OCD that I will tag and text myself about every payment I make. Wesabe has payment integration, but is also going after the quicken market. Billmonk really benefited from integration with Obopay deal and perhaps Buxfer will find a similar partner.

blog comments powered by Disqus