Does anyone want to send money via their mobile phone?

As a mobile gadget fan, I like seeing what I can do with mobile technology and finding ways to make my life a bit easier and more efficient, but I am a bit concerned about security and the confusion with all of these different clients and services. For most of the services you can enter your bank account information and have money deposited and withdrawn from your bank through these wireless services. Are you concerned about the security of your money? Will any of these mobile money clients ever really find a place in the mobile market?

Mobile money
Donna posted all the details on the recent Citigroup and Obopay deal promoting making payments with your mobile phone. I remember back in the days when I had my Palm IIIx that a small company called PayPal came out with the ability to "beam" money via infrared to other Palm users and I was hooked. It was intended to be used by friends to help pay restaurant tabs and other small exchanges, but it didn't really take off and eventually PayPal stopped this service. PayPal now has a mobile service similar to what Obopay is advertising with Citigroup. In the past I have also signed up for a TextPayMe account that lets you exchange money via text messaging. Even Nokia is getting into the game with a partnership made with Visa. It is also funny to see all these services start out by offering you a free US$5 to open an account and $5 for signing up friends just like PayPal did several years ago.

As a mobile gadget fan, I like seeing what I can do with mobile technology and finding ways to make my life a bit easier and more efficient, but I am a bit concerned about security and the confusion with all of these different clients and services. For most of the services you can enter your bank account information and have money deposited and withdrawn from your bank through these wireless services. Are you concerned about the security of your money? Will any of these mobile money clients ever really find a place in the mobile market?

Newsletters

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All