Paypal to offer mobile payment service
Published March 28th, 2006
Paypal customers will soon be able to pay for goods or authorise money transfers using text messages sent from their mobile phones.
PayPal Mobile will launch the service next month in the UK US and Canada which can be used for both online payments as well as paying for goods offline in shops.
PayPal Mobile will offer customers two options for transferring funds, be it for gifts or purchases, by phone to nearly anyone they choose, whether individuals or retailers.
Payments can be sent in two ways. People can make payments over a phone via text message or by calling an automated customer service system and using voice commands to transmit funds, according to PayPal’s site.
PayPal, which is owned by eBay, will then call the user to authorise the transaction with a PIN before notifying the other party of how to claim the payment online. If a recipient isn’t a PayPal member, he or she would have to create an account to receive the money.
However, a new Text to Buy feature that allows product codes to be included on advertisements may also appeal to retailers, as it would help them maximize returns from marketing campaigns by letting customers buy products using their mobile as soon as they see them in an advert.
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