PayPal is putting up a fight with the TextPayMe service with the recent release of a mobile payment service. This service will allow you to send money to another person or to make a payment for an item. If you wanted to send money to someone else then you could just text the payment amount and the phone number that you wanted to send the payment to. If you wanted to make a purchase then you could text the item number to PayPal and they will call you back to confirm the payment. This seems like it will be a very secure way of making payments unless you lose your cell phone, then it might not be too fun.
If you want to sign up then go to the PayPal Mobile page, and if you don’t already have a PayPal account then you will have to create one. Once the account is created or you are logged in then it will have you create a PIN number to use. To confirm the PIN number that you have chosen they will call you.
There are no additional charges if you are going to use this service except for what your cell phone carrier may charge for a text message.
News Source: TechCrunch