New PayPal app makes money matters a breeze

Xavier Verhoeven
27 April, 2010
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PayPal Australia has unveiled a new iPhone app that makes it easier to ask your mates for money. New features Split Check (complete with US spelling, even in the Australian version), Collect Money, and Send Money allow easy sharing of money without the need for cash.

The company is spinning the story as a new way to manage tricky social situations, like splitting the bill after dinner (whatever happened to everyone putting in $50 and leaving the leftover as a tip?), or asking for reimbursement from a friend.

“Whilst rules of etiquette have often lagged behind the technological advances of the past 10-20 years, this new innovation offers a real life solution to an age old dilemma” says Adrian Christie, spokesperson for PayPal Australia. “Marking five years in Australia, PayPal has been at the forefront of money matters, this is yet another way we continue to evolve money management to suit a modern mobile world and the increasingly connected consumer”.

‘Split Check’ lets you quickly calculate the amount each person owes after having dinner in a group. It can calculate amounts for up to 20 people, lets you include a tip, and also allows easily adjustment to individual amounts in case someone felt the need to indulge in crayfish and champagne while the rest of you stuck to pasta and beer.

‘Collect Money’ lets you request money from multiple people for all kinds of purposes – joint gifts or concert tickets, for example – without the need to call them and beg. Conversely, ‘Send Money’ lets you easily settle your debts or send gifts of money on the spot. You can also set reminders for recurring payments, or to donate money to charity.

Possibly the coolest element, however, is the app’s ‘Bump’ money transfer feature, allowing two iPhone users to put their phones together to transfer money between their PayPal accounts. The feature matches the phones by location, and the time of bump (from the phones’ accelerometers), and transfers the money automatically.

Of course, security is a priority for PayPal, with the app requiring a PIN or password for each transaction to prevent unauthorised use.

“It’s comforting to know that these important new technology advances are not only backed by PayPal’s unrivalled experience in this area, but are also underpinned by the security and safety features that our three million plus Australian account users currently enjoy when shopping online,” says Christie.

The app is available for free from the iTunes App Store.

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