An updated version of the official Paypal application hit the Android Market yesterday, adding new features and general enhancements. Chief among the changes is the ability to bump phones together to exchange money. Other improvements include an overhauled UI and the option to set a PIN for a faster log-in. Other features in Paypal 2.0 allow for requesting money, setting payment reminders, and splitting a bill with others. Look for Paypal in the Android Market or scan the barcode below.