Peer-to-peer payment scheme launched

"Here, have some money." "Don't mind if I do..."

PayHound.com has launched a peer-to-peer payment system which allows individuals to send cash to each other over the web. Payhound's P2P account can also be used for sharing funds by nominating other people's bank accounts or credit cards which they wish to use to transfer funds into and out of their PayHound account. PayHound secures its services with SSL and 128bit encryption. All account and transaction details are stored centrally using Public Key Infrastructure (PKI) technology. The company plans to expand the service to include B2B payments for SMEs who either do not have, or do not want, credit card handling arrangements.