Droid Zap by Motorola

[Sushubh]

Droid Zap is a fast and easy way to share photos and videos with the people around you. With a simple swipe of the screen, your phone searches for other android phones in your area that also have the Zap App. You can then send and receive files either publicly or with pin-protection.
It uses your smartphone’s GPS/WiFi functionality to identify your location. This will require a data network to download the photos and videos.

Motorola updated the app this week making it available to non-Moto devices. Sadly it appears to be restricted to US based devices as well.
Droid Zap by Motorola - Android Apps on Google Play