PayPal has unveiled a new Send Money application for iPhone, which it claims to provide PayPal and iPhone customers secure mobile access to their money and features for everyday life, including Bump money transfers, Split Check and Collect Money.
PayPal said that the ‘bump’ allows users to put two iPhones together, and transfer funds between their PayPal accounts. The Split Check feature lets users divide and reimburse each other for the cost of a meal, including tip and tax, for up to 20 people and Collect Money allows users to request money from multiple people for a joint gift, team dues, concert tickets, and more.
In addition, the version 2.0 of the PayPal Send Money app allows users to send gifts of money on the spot for birthdays, anniversaries or any moment of impulsive generosity.
With the new PayPal Send Money app, users can also set reminders for recurring payments, donate money to their favourite causes, and manage their PayPal accounts, all from the iPhone. For international transactions, the new app features a global currency calculator and 15 languages.
Osama Bedier, vice president of platform and emerging technology at PayPal, said: Today, you leave the house with three critical things: your phone, your wallet and your keys. 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.
