I read this a few months and totally forgot writing about this. This is one impressive iPhone app from PayPal But that attempts to take the pain out of splitting the bill. The application helps PayPal and iPhone customers transfer money by simply bumping their phones together. Not bad right?

Registered users can send money securely over the Internet in the process. This feature takes advantage of a technology from Bump Technologies, which created a way to share contact information by touching two phones together. The app uses the phone’s sensors to “feel” the bump and the information swap is secure and happens instantaneously.

The application is free so go ahead and download it from the iTunes AppStore. Once someone logs in with their credentials and identifies the recipient via e-mail address, one just needs to bump their phone with the recipient to transfer money.

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