PayPal yesterday launched a major upgrade to its free iPhone application, offering a number of new features including the ability to initiate money transfers between users' accounts by "bumping" iPhones.
+ Brand new look and feel!
+ Bump: Easily start by bumping iPhones.
+ Withdraw funds from your PayPal balance.
+ Request Money: Get paid faster, it's the easy way to ask for the money you are owed.
+ Split the Check: Instantly split the bill, calculate tip, and request everyone's share.
+ Collect Money: Ask for contributions from a group for an event, gift, or cause.
+ Set Reminders: Never miss rent or a bill.
+ Refer the app to a friend