Sending money to someone else has never been easier.  Luke Bornheimer of 9to5Mac reports that PayPal’s updated iPhone app allows you to send money from your iPhone using Bump technology.  You might have remembered Bump as the billionth app downloaded.  This app allowed you to transfer an Address Book contact from one iPhone to another by simply bumping iPhones.  Now this technology has been brought to the PayPal app.

The applications for this are endless.  You and a friend are going to go see a movie and you order tickets online with your credit card.  However, your friend doesn’t have any cash on them, and your movie starts in twenty minutes.  No problem.  With PayPals Bump technology you can simply bump iPhones, and send your friend money for your ticket.  It’s that simple.

Moreover, imagine you and a bunch of friends go out for dinner.  You want to split the bill, but you don’t want to give your server six different credit cards.  No problem.  You’ve got PayPal on your iPhone with Money Tool’s – Split Check.  Simply put in your total check, then tip, and finally how many people are in your party including yourself.  You even have the flexibility to change the contributions per person.  So, that one friend that ordered three drinks will pay a little more than everyone else.  You can even add the people from your Address Book in the Add Contributors page.  Finally, you can review your friends portion of the total bill, and then send the request for them to send you their part of the bill.  You won’t have to write your friend a check, or rush out to an ATM to get cash.  Heck, with this app who needs cash?

This and many other apps for the iPhone and other mobile devices will free us from a paper based society.  We are pretty much there now with online banking, and the use of credit/debit cards. This is the missing equation, and PayPal has found the solution.  I’m very excited when I see how these tools leverage technology to make our lives easier and more productive.  What’s your opinion on how this type of technology makes our lives easier?  I’d like to know your opinion.  Let me know by leaving a comment in the comments section below.

Article Via 9to5Mac
Photo Credit: App Photos Provided By My iPhone