Do you often use checks to add funds to your PayPal account? Are you an iPhone user? If your answer to both these questions is a resounding yes, then this bit of news might prove to be of some interest to you. PayPal’s Laura Chambers revealed at the recent TechCrunch Disrupt conference held in San Francisco that an updated version of the PayPal iPhone app will be release soon that will allow users to deposit checks to their PayPal account simply by taking a picture of it. She didn't go into much detail about it, but did promise that it will be out "in the next day or so." This new feature will certainly make PayPal’s iPhone app a lot more check-friendly and even more convenient to use for the PayPal loyalists out there.
The practice depositing checks via pictures/scanned images isn’t exactly new and is, in fact, already being implemented by some banks, but this will be the first time it’s being offered by a non-banking institution. We'll have more on this once the new PayPal iPhone app is released.