PayPal Mobile has launched, MobileTracker gives the play by play on how to set it up, from a story they picked up from psfk. Seems pretty simple, visit the PayPal site and establish your mobile account, after that you can send payments simply by texting PayPal (729725).

PayPal automatically calls you after each transaction to verify if its legitimate, and asks for a code. The premise is there but the execution is buggy, in my opinion, as a convenience service it’s too many steps.

1. Call PayPal

2. Enter Pin, complete transaction

3. Wait for PayPal to call back.

4. Enter Pin, again.

I understand PayPal wanting to verify each tranaction, as it protects both them and the user. I do still feel it is one step to many to complete a transaction.

Black Lab Mobile also requires you to dial a number to complete your transaction. PayPal will have a tremendous edge immediately over other competitors upon entering the market because of it’s userbase and eBay.

This is something I’m a bit torn over, in the end I think many would prefer a system like Sony’s Felicia or the Motorola M-Wallet, which hopefully will make it’s way.

I say I’m torn because even though I may not like the system it may be something I use simply because PayPal works and has proven itself, whereas switching over to a new unproven system, with new companies and or technology just don’t mesh well with me, and I’m sure it doesn’t mess well for a few million others as well.

It appears DarlaMack is covering this story as well

Service at this time appears to be limited to US, Canadian and UK residents.

- BigBerries