Monday, December 12, 2005

TextPayMe Offers Mobile Payment

I'm surprised PayPal hasn't developed this yet. I suspect your service provider will start to offer credit card like services when m-commerce applications arrive.

TextPayMe, a revolutionary new mobile payment solution

Now entering its public beta phase of testing, TextPayMe is a revolutionary new service that allows users to send money via text messaging.

To deliver a payment, a user simply enters the amount he or she wishes to send and the recipient's cell phone number (or personal alias) -- the transaction is instantaneous.

TextPayMe marks a revolution in the mobile payment industry. By providing a convenient and secure solution that works with virtually every mobile phone model across all major carriers in the United States, TextPayMe allows customers to start instantly -- without having to install applications or wait for cumbersome downloads.

The fees don't see too unreasonable either.

What do you think?


Anonymous said... takes 4-6 business days for me to transfer money from my checking acct to TextPayMe and then 3-5 business days for someone to withdraw money and put it in their bank account.

kind of slow.

Anonymous said...

TextPayMe looks like a copy of the SimPay system that flopped in Europe. I've seen another system from a company called Sapphire that's like the really successful, all-SMS-based system used in the Philippines and the LUUP system in the EU. The company's management includes a OSS KDE guy and one of the founders of the original MAC ATM network. They're launching soon; I'll post when I hear that they're up.