An update to the official PayPal app brings much more functionality for PayPal/iPhone users. Among the improvements to the app is the ability to transfer money by bumping two iPhones together the same as popular sharing app Bump. In fact, PayPal licensed the technology from Bump Technologies LLC, which allows iPhone users to share data by bumping two devices together, in order to allow iPhone users to make transfers using the method. However, those aren’t the only changes made to the current version of the PayPal app. The others include a tip calculator and bill splitter, an improved UI, and the ability to withdraw funds from your PayPal balance.