19. March 2010 12:19
Via The Register,
"Latest version of PayPal's iPhone application allows users to transfer money by bumping their handsets together. PayPal's application allows those with an account to reimburse each other for a split bill, collect money for a leaving present or donate money to charity on a whim. But it's the incorporation of Bump Technologies' client that permits the transfer of funds to a complete stranger by tapping phones together."
But, as first comment to the article asks
"If you are close enough to someone to "bump" your phones, then why on earth would you choose to trust/use PayPal to transfer money between the two of you, unless of course you were insane?"
On the other hand you may not have any cash on you or you may be a bit rich so that you don't mind paying a transaction fee to PayPal