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Good explanation of how Bump and PayPal work together. People have predicted the death of cash and checks for a long time. But there are certain transactions - like paying a friend back for dinner or buying vegetables at the farmers' market - for which they remain essential. ¶PayPal's new iPhone application could finally change that. It promises to let you quickly divide a restaurant bill and send a friend the portion you owe just by bumping your iPhones together. ¶The application is free to download from the App Store. Users log in with their PayPal credentials or with their cellphone number and a numeric PIN, and they can send or request money and manage their account on the phone. ¶To send money, users choose a recipient from their cellphone contacts or bump two phones together. For that, the app uses technology from Bump Technologies, which developed it to swap contact information between two phones. The money is transferred immediately

Add this to the Sports Illustrated "immersive" magzine for the iPAD as clear indication that the entire idea of what a visual document is has changed dramatically.  Radically. excerpt: The coolest media experiences that I've seen on the iPad - Operation Ajax, a graphic novel created specifically for the device. At the time, the idea was still very much in development, but today the Operation Ajax application has gone live in Apple's App Store. The major startups in digital comics, ComiXology and Graphic.ly, have focused their energies on making deals with publishers to transfer existing comics to the iPad or other devices. Operation Ajax, on the other hand, was created with the iPad in mind, avoiding some of the issues that come with transferring from print (the iPad screen is slightly smaller than a standard comic book page, for starters), and also making the supplementary material that can't be delivered in print a natural extension of the experience.

what does Meeker see in her crystal ball this year? Two overwhelming trends that will affect consumers, the hardware/infrastructure industry and the commercial potential of the web: mobile and social networking. Such a conclusion is hardly earth-shattering news to GigaOM readers, for we have been following these trends over the past year or two, but Meeker puts some pretty large numbers next to those trends, and looks at the shifts that will (or are likely to) take place in related industries such as communications hardware. She also compares where the rest of the developed world is in terms of mobile communications and social networking with Japan. Again, not a radically different approach to the one many tech forecasters take, but Meeker has the weight of some considerable research chops on her side. The Morgan Stanley analyst says that the world is currently in the midst of the fifth major technology cycle of the past half a century. The previous four were the mainframe era of the 1950s and 60s, the mini-computer era of the 1970s and the desktop Internet era of the 80s. The current cycle is the era of the mobile Internet, she says - predicting that within the next five years "more users will connect to the Internet over mobile devices than desktop PCs." As she puts it on one of the slides in the report: "Rapid Ramp of Mobile Internet Usage Will be a Boon to Consumers and Some Companies Will Likely Win Big (Potentially Very Big) While Many Will Wonder What Just Happened."