In a world where everyone is connected, and content is created and shared between PEOPLE everywhere (ie, not propoganda and marketing from companies), instantly, I think this new company, TextPayMe has a true market. Imagine if you will a completelly cash free society where someone finds something of yours they love (on the street or on craigslist.org), asks you how much, you agree on a price and then they pay you via SMS! No change in your pocket, you always know exactly how much money you have, etc. Anyway, here is a blurb about them from TechCrunch.com…
TextPayMe is coming out of beta on a SMS payment service (U.S. only) that allows anyone to send money to anyone else via cell phone. You simply sms the payment to another phone number.
For example, to send $15.27 to a friend with mobile number (206) 555-1234, you would text “PAY 15.27 2065551234″ to [email protected]
The service is currently free, and they are giving every new user $5 to sign up (this really reminds me of the early days with paypal, where they also gave $5 for every new signup and you could beam payments between Palm Pilots).
Your TextPayMe account can be tied to your bank account for moving money into and out of the virtual account. You can also give TextPayMe your credit card for Ã¢â‚¬Å“overdraftÃ¢â‚¬Â payments.
It looks like they will eventually charge for transactions, but the service is free for now.