PayPal's New App helps PayPal and iPhone customers transfer money by simply bumping their phones together. Its new app relies on technology from Bump Technologies, which created a way to share contact information by touching two phones together. The information swap is secure and happens instantaneously. PayPal's new application can be downloaded for free from Apple's App Store. Once someone logs in with his/ her credentials and identifies the recipient (via e-mail address), he/she can just bump his/her phone with a friend's to transfer money for concert tickets, a group dinner, a birthday present and more.
http://abcnews.go.com/Technology/AheadoftheCurve/splitting-check-easy-bumping-phones/story?id=10135334
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