Thursday, March 23, 2006

Texting PayPal Payments

InternetNews reports on PayPal's move to take payments mobile, allowing customers in the U.S., U.K., and Canada "to make payments and transfer funds over the phone and through SMS text messaging."

After activating the PayPal Mobile service via their Internet account, "customers can send a text to "PayPal" (729725) from their phones and enter the dollar amount they want to send to a particular vendor, charity or user ID number. PayPal will then contact the mobile user to confirm and complete the transaction."

David Chamberlain at In-Stat was cautious about the prospects and wad "not sure exactly what people are willing to pay for using such a thing." He said, "I just don't know that we've got a huge market for it."

JupiterResearch analyst Edward Kountz saw the "benefit of PayPal Mobile from a global standpoint." He said the service will enable PayPal "to reach new customers both in the U.S. and abroad." He pointed out that "overseas, Internet access is often more common through mobile devices than desktop PCs."

Kountz added, "I think this is an important announcement. Technology is finally catching up with the vision."

Since I have a PayPal account for eBay purposes, I activated PayPal Mobile and the process was pretty simple and seamless. I have funds in my PayPal account and I'm always looking for ways to use it beyond just eBay.

For some reason, I'm too lazy to transfer it back to my regular bank account. Maybe it's because I treat it as found money after selling off old gadgets, video games, etc, on eBay. My PayPal funds also help justify some of my gadget purchases.

Anyway, I haven't tried making a mobile payment yet, but if anyone wants to send me money then feel free to contact me....