Paypal App Update Brings Check Scanning

May 23, 2011
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Good news for Android users hoping to maximize their time. One of the biggest modern-day time consumers is that of waiting in line at a bank to cash a check. I mean, it’s a piece of paper and you don’t even get the cash immediately! Well, Paypal’s got the solution for that.

PayPal recently released an update to its Android mobile app that add this pretty nifty feature: people can just take a picture of their check with an Android 2.1 or better phone then automatically have the cash put into their PayPal account. The PayPal app upgrade, which puts the app at version 2.8, also allows the software to be stored on a handset’s memory card, a nice little feature to save on your device’s internal storage space.

This isn’t exactly brand new – iPhone users have had the access to this feature since last year and they’ve been pretty avid users – which should allay your fears about security. As it is,  Shimone Samuel, the Product Experience Manager for PayPal Mobile, says iOS users been averaging a million dollars worth of check scans per month. There are some limitations though: users are limited to $1,000 per day and $3,000 per month for check scans. You also can’t do “Cash” checks – a very sensible feature to avoid scams.

It’s a pretty easy procedure to get going. Just follow the instructions and take a picture of your check and input the necessary info. In less than a minute, you’ll have confirmation of processing – Paypal still has to confirm your check after all. It takes six days for processing, but better hold on to that check for a while so that any hiccups will be cleared quickly.

This move opens up a whole new market to Paypal’s services – which is probably why it did it. Kudos to them for the smart play.

Source: GigaOM

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