Mitek Is Definitely Putting Their Patent To Use

Though PayPal’s check deposit feature within their application hasn’t been available to the public for that long it is already proving to be incredibly convenient, and users are definitely liking the idea of not going to the bank. In the first 36 hours after release, the company has already received more than $100,000 in check deposits.

Mobile check capture was introduced in version 2.7 of PayPal’s iPhone app. Users will now find an “Add Money From Checks” option in the Tools sections of the app. After agreeing to the terms and conditions, users can take a photo of the front and back of a check to electronically deposit the funds into their PayPal account.

PayPal wasn’t first to introduce the mobile check capture feature — the online payment platform was preceded by brick-and-mortar Chase Bank’s Quick Deposit app. Imitation may be the sincerest form of flattery, but PayPal will walk away as much more than a flatterer.

User demand speaks to a prescient general public interest in the feature; the functionality offers PayPal a way to maintain mobile payment dominance over the lot of up-and-coming trendy startups attempting to edge their way in to the space.

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