PayPal iPhone App Transfers Money By Bumping Against Another iPhone

If any iPhone owners reading this haven't yet got the PayPal app, it's definitely worth downloading now they've licensed Bump Technologies' ability to transfer data between iPhones by simply touching them together. Bumping to transfer money actually sounds fun.

Of course, it's bound to be more fun if you're on the receiving end of the money transfer, but even so—just bumping two iPhones together and entering the transaction amount sounds almost dangerous. A few other features have been added to the upgraded app, including a tip calculator for working out how much to money to give, plus a bill splitter for those who don't want to pay a cent more than they have to.

It's a free download, available now. [iTunes via TechCrunch]