TippingCircle is a new peer-to-peer mobile payment app that connects users through their social networks so that they can send and receive money with online friends using a PayPal account. The service has announced that it is releasing a public beta for testing in 190 countries.

Along with sending and receiving funds, TippingCircle enables group payments and social fundraisers  across social networks. This allows people to contribute to a nonprofit or pool money to help someone pay medical bills, for example.

"I've always wanted to create an online service that really makes a difference, and now I have," said James Davis, founder and CEO, in a statement. He described how TippingCircle had created a "tipping bucket" to help one of his cousins pay for cancer treatments and surgeries. "I was shocked to see the generosity of family and friends who pitched in thousands of dollars to help pay for the medical bills."

"I'm excited to be a part of this and I'm dedicated to make TippingCircle a solid and useful service that will help even more people around world," Davis said.

TippingCircle can be accessed through a mobile app or an online connection. The mobile app is available for iOS, Android, Windows Phone and BlackBerry devices.

Read more about money transfer/P2P services.