PayPal has been adding a number of innovative features to iPhone and Android apps. Most recently, they added "Bump" technology, which allows transfering money and initiate transactions by simply tapping smartphones together.
PayPal's President Scott Thompson revealed that upcoming iPhone app will include "ability to make donation to charitable organization from the app". PayPal partnered with 20,000 various charities, including Autism Speaks and Save The Children, allow users to make donation any time on the go from their PayPal account.
Another feature coming to iPhone will save you a trip to ATM or bank. "After receiving a check, you'll be able to take picture of the "front and back" of the check and PayPal will then deposit the amount from "check's refering bank account" into your PayPal. Some banks, including Chase already offering this feature."