PayPal Adds Photo Check Deposit Feature to iPhone App
PayPal has just unveiled a new feature to its free iPhone app that allows customers to make a deposit by simply taking a photo of a check.
Launched this week by the popular e-commerce site, the Mobile Check Capture requires the user to take an iPhone photo of the front and back of the check; once the image is scanned in to the PayPal account , the funds are available for use.
In the first 36 hours of Mobile Check Capture’s release, PayPal said it had received more than $100,000 in check deposits .
“We knew that this would be popular but we had no idea just how much pent up demand there was for a quick, easy way to deal with checks,” wrote Laura Chambers, Senior Director of PayPal Mobile in an Oct. 7 blog.