PayPal will soon be launching a new check-friendly version of their iPhone app. PayPal's new app will allow you to take a picture of the front and back of your check with your iPhone camera with the objective of adding the check amount to your PayPal balance! Awesome.Such functionality and technology has been explored by some banks already and by all means it is a very useful technology. The necessity to have this kind of technology can be traced back to the terrorist attacks of 9/11, that is nine years ago. As a consequence of the terrorist attacks, much of the financial infrastructure of the U.S was either shut down on purpose or was struggling under the weight of demand. This led to the passing of legislation that allows
non-traditional methods of transacting thereby paving way for technologies and systems that allow you to easily transfer money under a variety of situations. In fact, in the long run such technologies may enable financial institutions to get rid of checks entirely. In more than many ways, this would be even more convenient. Related Articles:
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