I just came across this post in Gear Live about a PayPal like service called TextPayMe. It allows you to send and receive payments by just using SMS through your mobile device. The service is available to anyone who signs up a free 5-dollar deposit into their TextPayMe account. What’s more, if you sign up soon, you can take home a spanking new Xbox 360 console that the world is feeling so deprived of due to shortages and mind you, the enterprise model costs 399 US dollars!



But leave aside the Xbox 360 for the moment. Just imagine what you can do with this service. Gear Live provides three really good suggestions:


Split restaurant bills on the spot

Settle your roommate’s rent and utility bill from wherever

Pitch in real money for a split gift rather than an IOU





It is a lot better to use mobile phone to transact money from wherever you are than having to sign in to PayPal from where you are. I fully agree with Gear Live here.



I can see that this service is going to be a smash-hit very soon, PayPay might be thinking of mutating into something like this, what do you say?



Thanks Gear Live