Security analysts have already launched debates about whether services like Blippy represent significant identity theft risks, since fraudsters could more easily target users with phishing scams based on purchase histories. However, the service's investors already envision more practical uses for Blippy's technology, such as automating expense reporting and financial compliance.
Financial officers at large companies already enjoy access to real-time spending updates through credit card issuers' online services. Blippy can unlock similar features for smaller teams or families concerned about spending wisely. In the meantime, Blippy users seem content to add entertainment value to the service by posting feedback about each others' Amazon and iTunes purchases.
About the Author
Joe Taylor Jr. is an internal business consultant for a Fortune 500 company, who writes about finance, culture, and design. He holds a Bachelor of Science in Communications from Ithaca College.