Higher One, a provider of services to colleges and universities, has acquired PayDivvy Inc., enabling students to make person-to-person payments for the management of bills.
PayDivvy's technology electronically splits a bill and then notifies each person in the party of the amount they owe. Students are then able to electronically send funds through a mobile device to the account of the student paying the bill.
To use the bill payment system, students must have a checking account through one of Higher One's banking partners.
"We believe that consumers have complex payments needs every day that include everything from splitting a dinner tab to sharing an electric bill with their roommates," says Whitney Stewart, vice president of product management at Higher One, in an Aug. 1 press release.
"Higher One is the ideal partner for us serving more than two million banking customers," says Mike Melby, CEO of PayDivvy, in the release. "We have built an amazing product at the cross-section of social, mobile and payment technology, practically tailored for Higher One's customer base."