PayPal new iPhone app to facilitate mobile donations and check deposits.

Following the lead of its parent company eBay recent push into the world of mobile apps, PayPal has been putting a lot of emphasis in its iPhone and Android apps as more features are added.
The latest addition is Bump technology which allows users to transfer money and initiate transactions by simply smartphones together. With the next generation of the app for the iPhone, PayPal plans to add the possibility for users to make donations to their favorite charities directly from the app. To reach that goal, PayPal has partnered with 20,000 different charities.
Another interesting feature to be incorporated in an upcoming version of PayPal’s iPhone app is one that will save you the trip to the ATM or bank. When you receive a check, you’ll be able to take a picture of the front and back of a check and and PayPal will deposit the amount from the check’s account into your PayPal account.

We quoted Techcrunch who said that PayPal next generation iPhone app is to be released within a few months.


For more, see techcrunch.com

USAA bank to let customers deposit checks via iPhone.

USAA Bank, a privately held financial institution who serves primarily military personnel and their families, announced last week that it will start offering a free iPhone application that will allow its members to make check deposits through the phone.
To use the feature, a costumer will have to take a picture of both sides of the check with the phone camera and then send the image to the bank check processing center. From there, the deposit will be processed electronically without the customer having to mail in the physical check, which can just be discarded. But for now, the service will be limited to customers with some type of credit and insured through USAA.

For more, see NYTimes.com