Paypal emits cash swap tap app for Android

PayPal has updated its Android client to allow person-to-person transactions by tapping phones together, but without the complexity everyone else is using. Finally you can borrow an electronic tenner at the bar, just by tapping phones together. Assuming you both use PayPal, and have NFC-capable Android, handsets, and have the …

[TRT]

Useful if it keeps track of when you lent your mate a tenner and if they've paid it back or not. Not so useful for ridding yourself of pocket shrapnel at the local tube tramp.

[Ben 47]

Not only NFC

As far as I can tell the Paypal app also hooks into Bump (if installed) for those phones without NFC

[@brykins]

Erm....?

Why the need for NFC/Bump at all? If both users are using PayPal and have to be connected to the net, why doesn't one just click 'request a tenner' and the other just click 'lend a tenner'. Why do they need to bump when they're right next to each other anyway?

[N13L5]

I sort o like...

Few people would officially admit to liking Paypal, but after having tried Moneybookers/Skrill recently, I've found out how much worse you can do... I've grown a lot more fond of Paypal since...

I'm wondering with this tenner borrowing business, does that come out of a balance of cash you earlier stored up in your phone or does it get pulled from your bank account?

On another tangent, I've heard a conspiracy theory that the powers that be - err, namely that ominous banking cartel that runs 'everything', want to prepare us for a world with no physical money, so they can much better control us all... If you offend the wrong people somewhere, they can just turn off your access electronically and you're out of commission...

This would look like another step forward on their grand masterplan :P