Paypal have recently launched a new mobile payment service. The mobile service allows any Paypal member to send and receive payments using either text messages or dialling an 0845 number on the Paypal website from there mobile phones.
At the moment there are no charges to send or receiving money using this new service only the mobile phone or wireless provider text or call costs, although there is a small charge to withdraw your funds, as there is with the normal Paypal service.
Will this new mobile service bring with it some interesting security or privacy issues? The Paypal website says not. In order to use this new service you will need to activate your phone via the Paypal website, when doing this you are asked to create a unique mobile PIN. Paypal will then contact you by phone and confirm that you actually own the phone you have activated. The website also covers other possible issues like lost phones, incomplete transactions and goes on to offer the same protection for there mobile users as they do there online.
" With mobile, you get the same buyer protection programmes and customer support that you get with PayPal online. And our proprietary fraud models apply to secure PayPal mobile transactions".
With this new service will come other features including 'Text to Buy'.
" Whenever you see Text to Buy next to something you want to buy - on a poster, in a magazine, at an event - you can order the item securely by text message.Use your phone to buy items like CDs, DVDs, books, electronics, accessories and much more".
Signup and more details of what could be a great new service are already available on the Paypal website.
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