Not sure if anyone else has come across this but it seems to be a new type of Dwolla, although the description says that transactions are shared with the public in a social way.  Seems like a cross between Dwolla and Bitcoin without the anonymity.

http://venturebeat.com/2012/03/20/venmo-now-processing-10m-a-month-comes-out-of-beta-offers-me-the-worlds-smallest-bribe/

https://venmo.com/

They also charge no fees at the moment..