PayPal's iPhone App Hits 1 Million Downloads In Under 3 Weeks

Ecommerce giant eBay has been reaching big milestones with its mobile apps, and apparently PayPal, its electronic payments subsidiary, is striking a chord with mobile users around the globe as well.

The company, which boasts more than 81 million active accounts in 190 markets and 24 currencies around the world, says its new iPhone app (iTunes link) has been downloaded an impressive one million times in less than three weeks since its debut.

With the new PayPal Mobile iPhone app, users can split restaurant checks, collect money for events, set reminders for recurring payments, donate to their favorite causes and manage their PayPal accounts.

Thanks to an integration with Bump Technologies, users can exchange information and quickly close PayPal transactions simply by ‘bumping’ (tapping) their smartphones together.

PayPal Mobile supports fifteen languages and also features a global currency calculator. It has been in the App Store, free of charge, since mid-2008.

The company also boasts applications for Android and Blackberry devices, but to date hasn’t released download numbers for those platforms.