Over 1 million iPhone users have downloaded the first version of PayPal app onto their iPhones and use it to send money. I’m one of them but to be honest, I seldom use the PayPal app, considered that it only provides limited features such as send money and view transaction history.
On Tuesday, PayPal announced an updated version of its iPhone application. After using it for a day or two, I start to love the app and it’s now becoming one of my must-have iPhone apps.
The version 2.0 release offers a handful of significant features and a much slicker user interface. One big feature is “Bump to transfer money”. We have covered the Bump app that lets you swap contact information between iPhone by simply bump two phones together. The new PayPal app integrates the Bump technology and you can tap two iPhones together to transfer money.
Since its first release, the PayPal app is free for download via the App Store. Once you launch the app, simply fill in your Paypal credential and you’re ready to transfer money.
To send money, simply choose a recipient from contact or manually fill in the recipient’s PayPal account. Or if the recipient just sits next to you, tap both iPhones together and use the new Bump feature to transfer money. It’s simple and quick.
The PayPal also comes with a couple of handy tools. It’s common you need to split a bill and pay your friend back for dinner. There is now a bill splitter to help you split the check (with tip & tax included) for up to 20 people. The other feature is Collect Money. It lets user to request money from multiple people for a joint payment (e.g. gift, group tickets). If you have any recurring payment, the PayPal app also provides a reminder feature (via Push notification) to alert you to send or withdraw money.
To prevent unauthorized use of PayPal, the app requires a PIN or password for every transaction in Send Money. (Tip: remember to choose a good password)
With PayPal app, your iPhone is now just your wallet. The bump feature and bill splitter are both great features that you should check out. If you are already a PayPal user, remember to download this free app from App Store [iTunes link]. Not having a PayPal account, register through paypal.com and start to enjoy the convenience of cashless transaction.