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Would you lose weight if you got paid for it? It's not a new idea, but now there's an app for it.

It's called 'Pact,' and it works by tracking you and your workouts.

Just give the app your credit card or PayPal information. Then each week, you pledge you'll do a certain number of workouts. You'll also enter what penalty you're willing to pay if you miss a workout.

There's $5 minimum fine if you skip a session.

The app tracks you when you check into a known gym and monitors how long you stay. Or you can wear a fitness band or use your phone's GPS to log miles.

Reward money is from the pot of fines from people who failed to honor their pact.
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