I didn't know you could use your phone to make PayPal payments, but it's true. PayPal Mobile lets you access your PayPal account and do many of the things you could do online. Once you activate your phone, it's easy to check the balance in your account. You can send money by mobile web, if you phone is so equipped, or you can make a payment by text message. They'll even phone you back to confirm that you really want to make that payment. You can also request money by text message. Now when it's time to split the bill, you can pay-up in real time, instead of the ever-popular "I'll gladly pay you back on Tuesday for a hamburger today".
PayPal Mobile works with just about all cell phone carriers and most phones. There's no charge to check balances, send payments by phone, or to receive money into a personal account. Business account holders will be assessed normal charges for receiving payment. Normal charges from your carrier for air time used, text messages, etc., may apply.