There’s more than one company to experiment with iPhone payment schemes lately, and while the likes of Square looks pretty good, I think there’s something beautifully simple about the way PayPal’s iPhone app handles transactions: you just open the app, type in the amount of money and bump your iPhone against the iPhone of the person you want to pay. There’s no dongle required.
It’s about as simple a solution to paying someone using my iPhone as I can think of. The only problem is that it requires you to entrust your financial dealings to the consistently crummy PayPal service. Although I must admit, the embedded video is so endearingly corny, I’m having a hard time hating PayPal too much this morning.