PayPal Sees $100K in Deposits Within 36 Hours of Adding iPhone Remote Deposit Capture

Within 36 hours of releasing new mobile deposit capture technology built into the PayPal Mobile iPhone app, PayPal announced through its blog that it had already processed more than $100,000 in check deposits.

Within 36 hours of releasing new mobile deposit capture technology built into the PayPal Mobile iPhone app, PayPal announced through its blog that it had already processed more than $100,000 in check deposits.

With technology provided by BankServ, PayPal's Mobile Check Capture feature went live with the release of version 2.7 of the iPhone software.

"We knew that this would be popular but we had no idea just how much pent up demand there was for a quick, easy way to deal with checks," Laura Chambers, senior director of PayPal Mobile, said on the company's blog.

The previous update to PayPal's iPhone app allowed users to make donations from their phones.

PayPal joins San Antonio-based USAA, New York-based Chase, Bloomington, Ill.-based State Farm and Charleston, W.V.-based West Virginia Federal Credit Union as organizations with consumer remote deposit capture features built into Apple iPhone apps.