TextPayMe, a new service launched last week, offers a new way to send and collect money. Those interested in using the service must first set up an account, tied to a cellphone number, on the TextPayMe website. Money can then be added to the account through electronic bank transfer or a credit card, and users can then withdraw money by having a check mailed to them or through a wire to a bank account. Once a user sends a text payment (just SMS "pay 15 2065551234"--where 15 is the dollar amount and the following string is a cellphone number--to sms@textpayme.com), he or she then receives a call on his or her cellphone to confirm the transaction with a PIN. It's like a mobile PayPal. The service is being launched in a public beta phase.
https://www.textpayme.com/us/secure/index.tpm
http://www.marketwire.com/mw/release_html_...lease_id=103461
https://www.textpayme.com/us/secure/index.tpm
http://www.marketwire.com/mw/release_html_...lease_id=103461
