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News: PayPal Launches Mobile Payments

PayPal has now launched their mobile payment service that lets you pay anyone instantly via your mobile phone, via text messages and an automated voice response system.

PayPal Mobile Enables Anytime, Anywhere Payments, Purchases and Donations

SAN JOSE, Calif., and LAS VEGAS -- PayPal today introduced PayPal Mobile, a text message-based service allowing consumers in the US and Canada to send money anytime, from anywhere, using their mobile telephones.

With PayPal Mobile, users can send money, purchase items or donate to charities from their mobile devices. Using PayPal Mobile's Text to Buy service, consumers can buy things instantly, such as CDs, DVDs, shoes and apparel, by sending product codes via text message. Already, companies like 20th Century Fox Home Entertainment, Bravo, MTV, and the NBA Store are offering items for purchase with Text to Buy. PayPal Mobile also enables users to Text to Give to charities such as Amnesty International, Starlight Starbright and UNICEF.

"With the overwhelming popularity of mobile phones, the time has never been better for the merging of ecommerce and wireless devices," said PayPal President Jeff Jordan. "PayPal already has more than 100 million accounts worldwide, and our customers have already entrusted their personal and financial information to PayPal. Now, making payments is as easy as sending a text message anytime, from anywhere for the millions of customers that prefer to use PayPal."

To use PayPal Mobile, customers first activate their telephones by logging into their PayPal accounts at https://www.paypal.com/mobile. After registering their mobile telephone numbers, users must choose a secure Personal Identification Number (PIN) which protects every mobile payment.

PayPal Mobile users make payments by sending a text message to PayPal. PayPal calls the user back to confirm the mobile payment, and then sends the money to the recipient. In the case of a Text to Buy purchase, after the merchant receives the payment, the item is shipped to the address already saved in the user's PayPal account.

Every PayPal Mobile payment is PIN-protected and backed by PayPal's state-of-the-art fraud prevention system. With PayPal Mobile, financial information is never shared with the recipient. Each user's financial information is stored on PayPal's secure servers, not on the mobile telephone, so even if the telephone is lost or stolen, the user's PayPal account remains secure.

PayPal President Jeff Jordan will demonstrate the PayPal Mobile functionality and discuss mobile commerce during the opening keynote address today at 9:30 a.m., at the CTIA Wireless 2006 conference in Las Vegas.

For more information about PayPal Mobile, visit https://www.paypal.com/mobile.

About PayPal

Founded in 1998, PayPal, an eBay company, enables any individual or business with an email address to send and receive payments online securely and easily using a bank account, credit card or stored balance. Because PayPal allows customers to shop online without sharing their financial information with merchants, privacy is built into the service. PayPal has more than 100 million accounts and is available to users in 55 markets around the world. More information about the company can be found at https://www.paypal.com.

Posted by tim_palmzone on Fri, Apr 07, 2006

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"PayPal Launches Mobile Payments" | Login/Create an Account | 3 comments | Search Discussion
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Re: PayPal Launches Mobile Payments (Score: 1)
by bluefish on Fri, Apr 07, 2006
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Yet another way for PayPal to increase their profits and reduce our earnings!

Re: PayPal Launches Mobile Payments (Score: 1)
by tim_palmzone (tim at palmzone dot net) on Fri, Apr 07, 2006
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In the U.S., sending and receiving payments is free as long as the person paying you is funding it from a bank account rather than a credit card. I recently had to upgrade to the paid "premiere" service to be able to accept credit card payments from one of our affiliates.

So the bottom line is that its a great, free tool for exchanging money with friends or paying anyone from your bank account.


Re: PayPal Launches Mobile Payments (Score: 1)
by bluefish on Sat, Apr 08, 2006
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OK, thanks for that.
I have used PayPal many times, and I have to say that when a payment comes to me, there are always reductions.
I assume this is because the payments are made via creditcard then.
It is also always through ebay if it makes any difference.



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