Sunday 5 August 2012

PayPal Launches New Mobile Payment Procedure

I have just setup a new PayPal facility on my phone that does two interesting things. Firstly, it identifies me through my phone number. Instead of having to log in to a website, enter my email address, and then enter my password, I am automatically recognised as a PayPal customer by my phone number and I simply enter a 4 digit pin number to confirm a transaction.
The second thing is that I can pay other people simply by entering their phone number and the amount I want to pay them. Conversely, my customers can make a payment to my telephone number for goods purchased. This is all designed to make it easy to conduct transactions outside the traditional EFTPOS banking system.