Send Money with Your Cellphone

Verizon Wireless will soon offer Obopay, a new service thats you send money to other Verizon subscribers.

The service will be available in the coming weeks, according to this Reuters report. In the article, Sinead Carew said that the Obopay service, which will eventually let customers conduct transactions by waving their phone at a retail checkout or an automated bank cash machine, comes with an Obopay prepaid Mastercard, which lets users spend the money on their mobile account.

With the recent proliferation of cellphone online banking, this is a natural evolutionary step, but one that will remain limited until the service reaches out beyond Verizon’s walled garden.

Verizon to Offer Mobile Payments with Obopay [Reuters via eWEEK]

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