Paypal Launches Mobile Payment Service

Telecom News Editorials Reports Glossary

6:00 am on April 7, 2006 | Category: Telecom Services, Mobile Devices

eBay’s popular online payment division, Paypal, has launched a new service enabling Canadian and US mobile phone users to pay for products and services right on their wireless devices.

Paypal Mobile will be demonstrated today at the CTIA Wireless trade show in Las Vegas, and is usable by anyone with an existing Paypal account. To use the service, a customer must simply go to Paypal.com and open up a free account, then register their mobile phone and select a secure PIN number to protect the integrity of payments.

Transferring money is as simple as sending a text message to Paypal, then receiving a quick call to confirm the payment. This will likely be very useful for buying goods like CDs, DVDs, and event tickets.

Paypal has already partnered with several companies that will offer “text to buy” codes, including MTV Networks, the NBA Store, and 20th Century Fox.