PayPal’s [itunes link=”http://itunes.apple.com/us/app/paypal/id283646709?mt=8&uo=4″ title=”paypal” text=”mobile app for iOS”] has allowed users to scan checks with their device’s camera in order to deposit money into their account since last year. Now it’s Android’s turn. PayPal 2.8 for Android is now live in the Android Market.
The update also lets you search for local businesses that accept payment via PayPal and Android users can now move the app to an SD card to save storage space.
PayPal doesn’t charge a fee for scanning checks, and the company says users are depositing about a million dollars a month using the service. It takes about 6 days for a scanned check to clear, and you’re probably going to get best results if your phone’s camera supports autofocus.
Update: Chase Bank, which has been offering mobile check scanning for much longer than PayPal, just wrote in to let me know that the company’s customers deposit a whopping $150 million per month using iOS and Android apps, and users don’t have to wait 6 days for a check to clear. On the other hand, PayPal works with most banks, while the Chase app clearly only works if you have a Chase bank account.
via MobileCrunch
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