Thursday, March 23, 2006

CNN reports on PayPal Mobile

PayPal plans pay-by-text-message service

New electronic wallet would allow customers to transfer fund to retailers, other individuals via their mobile phone.

March 23, 2006: 5:57 AM EST

SAN FRANCISCO (Reuters) - Online payment company PayPal is preparing to offer a service for consumers to make purchases or money transfers using simple text messaging via mobile phones, the company said.
The move by PayPal, a unit of online auctioneer eBay Inc. (Research), marks a big step in bridging the worlds of e-commerce and the physical world of brick and mortar stores by giving consumers a pay as you go option via phones, analysts said.

The service, known as PayPal Mobile, will be launched in the next couple of weeks in the United States, Canada and Britain. Other markets worldwide will follow for the world's biggest online payments service.

Read the rest of the article here...

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