PayPal launches its mobile service

PayPal in cooperation with Sprint Nextel Corp. offers their customers a new service. Today people may make transactions through a specific application that appears to be a downloadable mobile wallet. The application was developed by mFoundry Inc and adopted to 18 phone models including LG, Motorolla, Samsung and others ones. The handset should be equipped with java application and support https with 128-bit key.

With Sprint wallet PayPal account holders send money to anyone who has an e-mail or a mobile phone number all around the world. The person to receive the money is notified about the transfer by text or voice message.

Previously PayPal introduced SMS mobile payments by means of which users were able to make money transfers or purchases right over their handset. However it didn't turn out very popular with the consumers, though some people deny the fact to be the reason of a new service launch.

The figures are not given away into public but the application users are claimed to be "quite a lot" and "very loyal" at that. The business is expected to attract new customers to use mobile payment services.