Digital money movement is convenient, and works well for utilitarian scenarios like paying bills and reimbursing friends, but falls a bit flat for gifting.

It lacks ceremony. It’s cold. And children — until recently, the recipients of bills in peekaboo envelopes showing the notable American’s face through the oval window — tend to lack accounts to receive digital funds.

Amy Moses, founder of Ballooning Nest Eggs, which demoed at FinovateFall last week, seeks to right this wrong.

The envisioned use case is parents soliciting financial gifts for their children’s birthday or bar mitzvah. Parents share the good news via social media or directly via email, giving friends and loved ones a simple way to send a financial gift. For now, the method is PayPal, but further payment gateways are planned.

“One way to share is social networking a la Facebook on our app, for family or very close friends, who regularly engage with parents and godparents,” Moses said. “The other way to share is through announcements and invitations a la Paperless Post.” Recipients can view photos and read updates, in other words, rather than receiving a sort of invoice, or an update with no opportunity to give.

The service is now onboarding some 500 to 1,000 beta testers. The plan, Moses told Bank Innovation, is to “enlarge it to be out of beta for holiday gifting season.”

Ballooning Nest Eggs wisely never holds funds for gifts, but facilitates the money movement between other accounts. “Why can’t banks do this for themselves?” Moses asked. “The opportunity we’re solving for is banks can facilitate gifting or payments, but they can’t center that around celebrations, around kids’ lives.” She added, “We do not envision ever holding onto that money — what we do really well is we help families collect assets, but financial institutions manage those assets.

Put another way, the company is uniting social media with transactions. For now, Moses said of parents, “They’re not doing social networking with companies they’re transacting with.”

Venmo has lightly touched on social media, with its emoji-heavy messaging functionality, and Zelle now allows for videos and customized asking for reimbursement

“Phase 1 is I’ve embedded the PayPal API in the app,” Moses said. “Phase 2, within a year, is to partner with financial institutions.” Gifters need to register on the BNE app, and for now, set up a PayPal account. With a bank partner, that can change. More than one financial account can be linked to a BNE account.

About privacy concerns, Moses noted, “Everything you would want to keep private is private.” The app is parent-centric — If you want to share more, you can. Kids don’t see the gifts or total funds unless the parents let them. In future, the app may contain a specific area for kids. Parents set up the profile, which Moses calls “pretty basic” — profile, birthdate, profile photo.

Other versions of this idea have been card-based, and not family-centric — Giftly, Gyft, and Giftcards.com. Perhaps the closest is SparkGift, acquired by Stockpile, which allowed for the gifting of stocks and index funds.

Moses said, “I’ve had conversations about this with executives at large FIs, and they say they love this, they’ve never seen anything like this, and that’s a professional response, seeing it has a lot of applications, but also personally, as parents.”