PayPal is betting you wouldn’t trek to your bank or closest ATM if you didn’t have to.  They’ve added a feature to their iPhone app which lets users deposit checks into their PayPal account by snapping a photo of them.

Other financial institutions such as Case Bank have similar apps, but this one is catching on like wildfire:  according to PayPal, more than $100,000 worth of checks were deposited in the first 36 hours!

Imagine what that number would be if they also had the app for Android phones…!

 

Tags: Banking, Checks, mobile, PayPal

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Posted in News by Matt Coddington No Comments Yet