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Hey mate, I need my money back. Do you know how many Aussies can’t...

It also found the majority of respondents (65%) were prepared to throw away at least $20 instead of having to chase a friend for the cash, with some saying they would even risk $100 to avoid the awkward follow-up. Money is tight for everyone right now but for some reason, Aussies still find it awkward, annoying, frustrating or even too risky for their friendships to chase friends for cash.

With iPhone app, Pygg’s social payments just got easier

But Pygg’s market opportunity arises largely because banks are, well, banks. Even though most banks offer a variety of mobile transactions, they are hardly easy to use. A maze of links, codes and authentication, and sometimes having to remember a friend’s phone number etc., riddle the user. And then there is the cost a well.

More want to watch Pygg grow fatter

Pygg’s stock is rising. The Australian-born Twitter payment pioneer has banked $600,000 in new angel capital. Pollenizer, the startup incubator, raised most of the amount from a bunch of new and previous investors.

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Ever considered crowdfunding? [FREE REPORT]

Liz Wald is Vice President of International for Indiegogo.com. She has been terrifically successful raising funds through the crowd model.  One of her successes...

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New Zealand’s Xero eyes US IPO, further disruption as subscribers increase...

Xero recently held its annual meeting in Wellington, during which the company revealed some interesting details about its future. As has been widely suspected, the...

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