PayPal has released an update to its PayPal Mobile app for the iPhone adding a new Mobile Check Capture feature. With the new PayPal app, iPhone users in the U.S. can now deposit cheques into their PayPal account simply by taking a photograph of the check with the iPhone camera.
Once the user has photographed the cheque their PayPal balance is updated immediately and they are required to hold onto the cheque for fifteen days after which they can simply throw it away. Mobile Check Capture requires an iPhone or fourth-generation iPod touch and is available only in the U.S. at this time.
The updated PayPal application also includes new search and filter options for transaction history, making it easier to find past transactions. PayPal 2.7 is available from the App Store as a free download.
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