Would you trust your mobile device to make PayPal payments to others? Here’s a bigger question: Would you trust a “bump” iPhone application to make these payments with PayPal? In addition to a bill-splitter and reminders with the application, there is the feature of the PayPal kids program as well.

Honestly, I am a bit on the fence on using a mobile bank-like application like this. On one hand, it would be handy to make a payment with a mere bump to another mobile device. But with this comes one untouched reality. We are placing an application that handles our money on platforms that have ZERO reliable security in place. There’s no special anti-phishing, security suite to protect the user.

Coming back to the question of whether or not I’d use such an application, there’s no way. Until our mobile devices get something better in the way of security in place, I would never use any banking type solutions on devices like the iPhone. I believe that doing so is playing with fire.

[awsbullet:online banking security]