PayPal has issued a neat new update for its iOS app, now enabling users to store loyalty cards within the application.

In addition to loyalty card support, the new PayPal for iOS app also brings along a number of new features, as well as a few tweaks and enhancements. Apple's own Passbook application already allowed users to store loyalty cards, as well as gift cards and tickets, and PayPal has now followed the same route. The update allows for more convenience and greater functionality, which will most likely be welcomed by iOS users.

"Link all of your favorite cards to PayPal. Carry virtual versions on your mobile. Your wallet deserves the break," touts PayPal.

The update rolled out on Monday, July 14, and brings the app to version 5.5. Carrying virtual versions of loyalty cards allows users to have a more streamlined virtual walled, but the update has plenty of more to offer. Other neat improvements include much faster logins, due to some behind-the-scenes bug fixes and tweaks.

While the app has gained new features, however, it has also dropped something along the way. PayPal for iOS no longer offers the "scan a check" feature, which may disappoint some users. On the other hand, the app still allows users to add money to their PayPal account directly from their main account, with minimum hassle.

PayPal is among the most popular services of its kind, enjoying an impressive user base worldwide. As smartphones and tablets have gained significant ground in recent times, mobile support has also become increasingly important. Updating mobile apps is crucial for the success of such services, and PayPal is making significant efforts to stay relevant and boost its popularity in an ever-changing market.

The latest version of the app, i.e. PayPal 5.5 for iOS, is now available as a free download from the Apple iTunes App Store. For more information about the new PayPal iOS app or to download it onto your iOS device, head over to this link. The app is compatible with iOS 7.0 or later and works with iPhones, iPads, or iPods touch. The app is also optimized for the iPhone 5.