PayPal rolls-out mobile payment service

PayPal has announced a mobile payments system for its North American customers, which uses text messaging.

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PayPal has announced a mobile payments system for its North American customers, which uses text messaging.

Companies including 20th Century Fox Home Entertainment, the National Basketball Association, MTV and L’Oreal are now accepting payments from PayPal customers using the service.

If it is successful, PayPal will consider introducing it to other markets, including the UK.

PayPal Mobile lets US and Canadian consumers pay in three different ways: Text to Buy, to get products and services from merchants; Peer-to-Peer to transfer money between friends, and Text to Give to transfer cash to charities.

The system can work over the infrastructure of any mobile operator, with PayPal, which is owned by eBay, receiving the text-based transactions and transferring the funds accordingly.

Users have to have a PayPal account to use the service. They log on to their PayPal accounts with the mobile after pre-registering the mobile number and choosing a mobile PIN number.

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