“Waspit’s new platform combines the most innovative payment capabilities students now expect from an FDIC insured account (including mobile payments) with their emerging social media habits. 

By syncing Waspit with any of the major social media platforms, users can easily exchange money with friends, benefit from auto-Foursquare and Facebook check-in, and post reviews that create conversation around venues they and their friends have made purchases at – particularly about those good venues and those to avoid. Users are rewarded with points each time they make a purchase, post reviews or introduce friends. Points can be redeemed for gift cards from retailers like Amazon.”