PayPal launches new Send Money App for iPhone,Android and Blackberry

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PayPal unveiled a new Send Money application for iPhone, Android and Blackberry. Version 2.0 of the PayPal Send Money app gives PayPal and phone customers around the world secure mobile access to their money and convenient features for everyday life, including Bump money transfers, Split Check and Collect Money.

With “bump” users can put two phones together, and funds are quickly transferred between their PayPal accounts. The Split Check feature lets users conveniently divide and quickly reimburse each other for the cost of a meal, including tip and tax, for up to 20 people. Collect Money allows users to request money from multiple people for a joint gift, team dues, concert tickets, and more. Users can send gifts of money on the spot for birthdays, anniversaries or any moment of impulsive generosity.

“Today, you leave the house with three critical things: your phone, your wallet and your keys,” said Osama Bedier, PayPal’s vice president of platform and emerging technology. “PayPal Send Money lets consumers access their wallets through their phones. Because with PayPal, the wallet lives in the cloud – the mobile phone is just one device customers can use to access it.”

With the new PayPal Send Money app, users can set reminders for recurring payments, donate money to their favorite causes, and manage their PayPal accounts. For international transactions, it also features a global currency calculator and 15 languages. PayPal Send Money requires a PIN or password for every transaction to help prevent unauthorized use.

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