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The eBay subsidiary PayPal has confirmed that it is launching a new mobile payments service that will allow its customers to make purchases and transfer funds using SMS text messages.
The company has confirmed that the service, PayPal Mobile, will be launched in the next couple of weeks.
The new service will enable registered users to use their Web-enabled phones to make person-to-person fund transfers or pay for purchases.
Customers can make payments using a text message service or by calling an automated customer service system and using voice commands to transfer funds.
The 'Text to Buy' service will also feature a facility for customers to purchase advertised items by sending a text message containing a product code located in the ad.
Customers then receive an automated call asking them to confirm the order and to enter their mobile PIN. Users are then asked to confirm the delivery address.
Purchases will be debited to PayPal accounts.
Carl-Olav Scheible, general manager, UK merchant services for PayPal Europe,
commented: "As new wave services such as wirelessly-delivered music files, movie
clips and mobile TV are delivered to handsets, the levels of spend are likely to
be spurred once again.
"The challenge will be in creating payment mechanism that means businesses can
monetise their content without being entirely beholden to the mobile networks."
Source:
Getting Paid
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