(Smart Money) — It’s a question that’s often raised when a bank adopts a new technology. Is a new convenience worth a potential compromise in security? Many consumers struggle with it when they use text messaging to conduct business; log in to their bank account on a public computer; or even weigh using an automatic teller machine outside their bank branch. Now, a new mobile phone application has some asking the question again. EBay’s (EBAY: 21.36, -0.06, -0.28%) PayPal Mobile app allows PayPal account holders to transfer money by bumping two smartphones together, or entering the email address of their friend’s account. The free app allows iPhone and iPod Touch users to send money to other users around the world at no cost using their PayPal balance or bank account.
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