PayPal launches cell phone payment gateway
April 17, 2006 – 6:17 amPayPal is already the champ when it comes to electronic payment services. They claim over 100 million users currently use PayPal to send money by email. Now PayPal is launching a service into the giant cell phone market. PayPal has already landed support from MTV and other music industry heavyweights, who plan on using PayPal mobile to sell music. The uses don’t stop at that industry, though:
“You’re going to start to see retailers embrace (mobile) as another payment option,” Universal Music Mobile vice president and general manager Rio Caraeff says.
Uses for the service are manifest. Any product or service which can conveniently be downloaded are great candidates, such as music or ringtones. PayPal also hopes a new phenomena will occur: since the money doesn’t feel “real”, they’re hoping that people will spend more. There are a number of companies competing in the same space, but none have the installed user-base that PayPal does.
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