Announced at TechCrunch:
PayPal has been hyping this feature for a while now: the user takes photos of the front and back of any check written out to them, and the money is automatically deposited. There’s no need to make a trip to a local branch of your bank.
Read more: http://www.businessinsider.com/paypal-lets-you-cash-checks-with-your-phone-2010-9
This is similar to what I blogged about in “Banking By Mobile Phone” which is an important entrepreneurial tool in Africa.
And think of it this way… no more nasty tellers to deal with at a local branch bank as happened to me recently. But, of course, if you want to be sure the check is “good”, you’ll have to deal with the local branch.
PayPal is a subsidiary of EBAY
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