PayPal launched version two of its PayPal mobile app for Android. Just like PayPal Mobile app on iPhone, the new "Android app features bump technology – allowing you to simply tap two phones together to send money. Split the check is another great feature, which lets you automatically calculate the total cost of a bill and then collect money directly from friends when out to dinner."
PayPal Mobile for Android application is free, you can search &download in the Android Market. Or use this link to download directly.