While eBay subsidiary PayPal has already established an iPhone app of its own, this updated version offers new, and more secure, features for sending and receiving payments.
The PayPal Send Money app provides iPhone users with a new “bump” feature, which allows two users to transfer money between each other by physically bumping the two gadgets together.
Additionally, the “split check” feature provides quick calculations of the split cost of a meal, up to 20 people. Collect Money allows users to request funds from multiple people, while the more traditional method of paying users is included as well.
Users can also set up reminders for recurring payments, donate money to eligible receivers and manage all the technical details of a PayPal account.
The app is just one of the latest examples of the growth of mobile payments, and like the original PayPal app, this updated version is free.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
