05/15/2010 05:12 am ET Updated May 25, 2011

PayPal iPhone App As Good As Cash

Today's most interesting stories in technology, media and entertainment:

PayPal's new iPhone app lets users send money to each other. Making a transaction is as easy as bumping your iPhone with a friends, and instantly moves money from one account to another. The new application also makes it easy for users to share a restaurant bill by dividing amounts and calculating both tax and tip.

Comcast is set to broadcast the Masters in 3D. The tournament will be one of the first events to be broadcast over a cable network in 3D. The cable provider is also working with IBM to stream the Masters in 3D on the Internet, though users will have to purchase 3D glasses.

A new Netflix application will allow Windows Phone 7 users to stream movies on their phone. The new technology was displayed at a recent keynote and video from the event shows a clear, well-buffered picture. It has yet to have been determined if or when such an application will be available for the iPhone.

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Shelly Palmer is a consultant and the host of MediaBytes with Shelly Palmer a daily show featuring news you can use about technology, media & entertainment. He is Managing Director of Advanced Media Ventures Group LLC and the author of Television Disrupted: The Transition from Network to Networked TV. Shelly is also President of the National Academy of Television Arts & Sciences. You can join the MediaBytes mailing list here. Shelly can be reached at For information about Get Digital Classes, visit