PayPal updates iPhone wallet app

| March 18, 2010
PayPal updates iPhone wallet app

PayPal has launched version 2.0 of its Send Money application for the Apple iPhone.

PayPal said the app transforms an iPhone into a wallet.

“Today, you leave the house with three critical things: your phone, your wallet and your keys,” said Osama Bedier, PayPal’s vice president of platform and emerging technology.

“PayPal Send Money lets consumers access their wallets through their phones.

“Because with PayPal, the wallet lives in the cloud – the mobile phone is just one device customers can use to access it.”

Features of the updated app include “bump” money transfers, split cheques, and collect money.

“Bump” allows two users of the app to put their iPhones together and quickly transfer money between their PayPal accounts.

Split cheque enables users to quickly divide and reimburse one another for the cost of a meal, including tips.

Collect money lets users request money from multiple people for a joint gift, concert tickets, team dues, and more.

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