PayPal update makes it faster, adds loyalty cards

As Google is updating its Google Wallet app to include gift cards, PayPal is now rolling out an update to its mobile payments app. If you're a PayPal user, you'll definitely want to check out the app as it makes logins faster as well as adds the option to store and use loyalty cards.

The eBay-owned mobile payments company is now urging you to scan in all of your loyalty cards so you can use them on the go. "Link all of your favorite loyalty cards to PayPal. Carry virtual versions on your phone," PayPal said of its latest version 5.5 app update. "Your wallet deserves the break."

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Though PayPal may be adding the new feature, it is also taking away an old feature. Now, the feature to allow you to scan a check to deposit the funds into your PayPal account is gone. Mobile check depositing is no longer available via the appp, though PayPal says you can still add funds to your account by transferring money over from your bank account.

Have you tried the new app yet? Do you notice any improvements in login times?