PayPal to allow users to deposit cheques via mobile camera

PayPal customer will soon be able to deposit checks to PayPal using mobile phone cameras, thanks to the new service.

PayPal executive Laura Chambers confirmed that the upcoming service would allow users to take a picture of the front and rear of a cheque and deposit it into their account.

The service will become available with the launch of a new version of PayPal’s iPhone application.

Some banks are already allowing their customers to deposit cheques through mobile phone cameras, but it is a great move for PayPal as it has strong mobile presence. USAA Bank was the first bank to provide its customers with mobile depositing capability.

However, it is still unclear if the upcoming service will be available through Android-based devices or not, as the company mentioned only the Apple’s iPhone.

PayPal’s move could encourage others also to launch such services.