PayPal Mobile Check Capture Sees Positive Debut

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Having a smartphone in your pocket gives you access to a whole slew of features that you wouldn’t otherwise have. Not only can you make phone calls, send text messages and read emails but the extensive library of games found within mobile application stores like the App Store and Android Market make some smartphones more than capable portable game consoles. However, arguably the single greatest addition to modern day smart phones is a readily available and decently affordable mobile broadband connection.

When you couple these mobile broadband connections with third party mobile applications, the possibilities are virtually endless. Just about every day we tell you of a new and innovative application that will either supplement your life and save your time, or waste your time in a glorious fashion.

If you’ve been paying attention you’ll know that just a few days ago we told you that PayPal had updated their iPhone application with a pretty hefty feature. This new feature dubbed Check Capture allows consumers to actually deposit checks into their bank account just by snapping a picture of its front and back. While we’ve seen this before within a competing mobile application, this is the first time it’s been available to consumers regardless of what bank they belong to.

Despite the feature seeming a bit gimmicky, PayPal has announced today that it has actually been quite successful. In fact, according to their reports, the PayPal Check Capture feature has seen over $100,000 worth of check deposits in just 36 hours. Because I mean honestly, why go to the bank to deposit a check when you can just do it from the couch?

While Check Capture is an official feature from PayPal, their Innovate 2010 developer’s conference is set to go down between on October 26th through the 27th. It’s going to be interesting to see what third party developers come up with utilizing PayPal’s APIs.

Do I smell a future where ATMs are obsolete? Let’s hope so.