PayPal brings cheque deposit feature to Android app

PayPal brings cheque deposit feature to Android app

PayPal has updated its Android app, enabling US customers to transfer cheques to their accounts by taking a photo with their handset.

The feature was introduced to PayPal's iPhone app in October and has been a big hit says the firm, with about a million dollars a month uploaded using the system.

Although their popularity is waning, cheques are still widely used in the US, meaning that mobile deposit technology is increasingly popular. Earlier this month, specialist vendor Mitek Systems raised $15 million through a share sale after reporting record revenues and earnings.

On the company blog, Shimone Samuel, product experience manager, PayPal Mobile, says: "From a personal perspective I love the cheque transfer feature, I use an online-only bank and until this feature was added my only option was to mail cheques for deposit. Now I snap a picture and add them directly to PayPal. I can leave the balance in my PayPal account or withdraw it to my bank."

The updated app can also now be stored on the SD cards of handsets running Android 2.2+.

Comments: (1)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 22 May, 2011, 10:16Be the first to give this comment the thumbs up 0 likes

"Million dollars uploaded a month".

Either the 'million' is a typo or the Mobile RDC market is so tiny that even a company of the (large) size of PayPal has to content itself with such a (small) volume from a product that it calls a "big hit".