It is heard that pretty much any file type will be supported, whether it’s an image, document, video… you name it. You will either use Bluetooth or, to get some decent speeds, Wi-Fi to beam stuff between the devices. Not only the mobile phones- tablets and computers can also “participate” in the exchange. For password-protected file transfers additional options will be allowed, emailing files and so on.
The app can be downloaded for iOS devices from HERE and it will be soon available in android market.