PayPal iPhone application to accept check deposits via camera

By on Sep 29, 2010 at 5:20 PM
mobile September 29, 2010

Today, at the TechCrunch Disrupt conference in San Francisco, Paypal’s Laura Chambers indicated that an update to her company’s iPhone application, that will allow users to deposit checks by photographing the front and back of the tender with their Apple smartphone, is due “in the next day or so.” The ability to deposit checks via scanned images has already been implemented by some traditional banks, however PayPal will be one of the first companies to implement the feature into a mobile application.

Read

Tags:
, , , , , , , ,
33 Comments

Related Articles

  • Mohammad

    ok. dont care.

  • Mgl

    Chase does this already, but its good to have “choices” right?

  • OneoftheFirst?

    One of the first to implement on mobile? My bank has had this option since August 2009.

    • Apocalypse

      hmmmmmm

      so you send a photo from A to B

      too bad the internet goes thru Z before it hits B so ill pass but thanks anyways.

    • http://www.smiteahippie.com Smite A. Hippie

      I’ve been doing it for a couple years now, from the phone, and scanning it directly from the computer a couple years before that even. USAA FTW :)

  • YeaBoy!

    fourth!

  • Scotchua

    This is great for me as my bank doesn’t give the option, but I can just transfer the money from paypal to my bank anytime i want.

    • http://www.pyrofallout.com Pyrofallout

      Ya it just takes 3-5 business days.

      I say who cares. I have Chase. I have been doing this for several weeks already with my iPhone. And to my understanding USAA has offered image deposit of checks (granted not via mobile) for a number of years now.

      • Stephen

        Not true. USAA has offered mobile check deposits (Deposit@Mobile) for well over a year by iPhone, Android, and Blackberry.

  • Mr.Bill

    What a shame this app is for a feature phone.

    • Jarrett

      It joins another 250,000.

  • Tdot34

    Who the hell uses checks? I am surprised places still accept them.

  • josh

    Cool stuff. Chase is releasing the Chase app for Android that does everything the iPhone version does, including check deposits via camera, in quarter 3 2010, so pretty soon. Be on the lookout Androiders.

    • josh

      Qtr 3 has pretty much already passed, Chase is waiting until sometime after September, because that’s when the iPhone’s exclusivity runs out I believe.

      • Jarrett

        What iPhone exclusivity? Are you suggesting Apple has App exclusivity? The Android version isn’t available yet because it isn’t done yet. They created the iPhone version first because of marketable demand.

    • http://music.kwaping.com Kwaping

      Doesn’t Q3 2010 end in a couple of days?

      • josh

        Read my own reply.

  • JP

    The only thing that sucks is Chase has a $300 monthly max so kinda useless if you have more than that every month (if you don’t it’s quite sad actually ha ha!)

    • josh

      Or you just have direct deposit???

    • serpentor

      Quite sad? I’d say more like quite useless.

    • http://twitter.com/carl Carl

      The Chase daily max is $1000; the weekly max is $3000.

  • sirpaul

    How do they validate the cheque?

    • T

      Check 21…. It’s a law in the United States that allows the payee and/or depository bank of the original paper check to create a digital version of the original check…. eliminates the need to pass the physical check around through the banks and Clearing Houses. A digital copy can be sent to every location it needs to pass thru at one time. Speeds up float considerably.

      • T

        … by the way… it needs to meet certain criteria still… so don’t go taking away from what I said that you can go and photocopy a bunch of checks on your own.

  • http://www.aer-conditionat-whirlpool.ro aer conditionat

    not useful at all this, who uses checks anyway?

    • T

      Exactly why it is useful… who would want to go to the bank or ATM just because someone wrote you a check?

  • James

    That’s retarded. Fraud.

  • Jamaal

    Sweet service, especially for Canadians since our banks are lagging behind as far as mobile technology is concerned (assuming the service is available to us)

  • http://theblanchard.com John Blanchard

    My wife is a hairstylist and takes quite a few checks still. I hate going to cash them and I’ve been looking into the product from Square, but something like this sounds interesting.

    • jr

      What is Square?

      • http://theblanchard.com John Blanchard

        Square is a new company that lets anyone take credit card payments with their mobile phone. Check them out at http://squareup.com

  • Steel

    Better port this to the Android version, Paypal. iPhone owners don’t do productive things w/ their phones.

  • vav

    DCU also has this functionality

blog comments powered by Disqus