PayPal has launched a new service called PayPal Mobile allowing purchases via cell phone text message.
From now on, consumers can look for its “Text 2 Buy” logo in magazines and newspapers or on TV, billboards, posters or Web sites. When they see the logo, they then key a product code into their cell phones.
The service will also allow people to send money to each other through text messages.
I’ve been hearing about how PayPal and others, like Google and its supposedly upcoming PayPal killer, have been working on this feature, and I think it’s a natural and practical development for them which is also quite simple to do technically.