PayPal lets people deposit checks using iPhones

Oct 08, 2010
Apple CEO Steve Jobs demonstrates the new iPhone 4 as he delivers the opening keynote address at the 2010 Apple World Wide Developers conference June 2010 in San Francisco, California. A PayPal application that lets people deposit checks by scanning them with cameras built into iPhones was considered a budding success on Friday.

A PayPal application that lets people deposit checks by scanning them with cameras built into iPhones was considered a budding success on Friday.

More than 100,000 dollars worth of checks were handled by a Mobile Check Capture feature in the 36 hours after it was added Wednesday to a PayPal application for Apple's popular smartphones.

"There must have been a lot of people with checks waiting for the new PayPal mobile check capture to come out," PayPal Mobile senior director Laura Chambers quipped in a blog post.

"We knew that this would be popular but we had no idea just how much pent up demand there was for a quick, easy way to deal with checks."

The service, powered by BankServ, enables people to deposit money into PayPal accounts by using iPhone cameras to take pictures of checks made out to them.

Mobile Check Capture is one of the new features added to the recently released iPhone 2.7 application available online at PayPal.com/mobile or at the iTunes website run by Apple.

PayPal is a major Internet financial transactions service owned by online auction powerhouse eBay.

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Wasabi
not rated yet Oct 09, 2010
Haven't used paper checks in many years myself but I never-the-less find the concept pretty useful.