In order to send and receive money, users of the app will not need to know bank details - just the mobile number, Facebook username or Twitter username of the person they would like to exchange money with. This simple and safe experience means that the process of making small payments and repayments, such as paying back friends or splitting the dinner bill is now easier than ever before.

The app's creators have worked hard to ensure the app matches their ultimate vision - where sending or requesting money from friends and family is as easy as sending them a message. Showcasing this ease of use, Yaap CEO, Carlos Beldarrain, gave a live demonstration of Yaap money during its launch presentation in Madrid. Beldarrain stated "Yaap money is the chat of money transfers; instant and safe".

Further commenting on the social elements of Yaap money Beldarrain said: "Yaap money is social. It is no longer necessary to request an account number from anyone; now with Yaap money you will be able to send and receive money among your Facebook friends and Twitter network in the same way you chat with them every day."

Yaap money is a service for everyone, regardless of their bank or mobile phone operator; all that's required is to have the mobile app installed and to link it to a credit card. With two banks and a major mobile phone operator among its partners, the security of all transactions through Yaap money is fully guaranteed, passing the strictest controls and tests prior to its release.