Gizmodo 
Apr 6, 2006 3:01 PM
262
As we mentioned before, PayPal has created a mobile payment system allowing you to send and receive money via SMS.
The site is up now and you can activate your phone by clicking a button and entering your number. I'm trying to figure out some use cases, right now, and strangely enough I could see this as a boon for tourists: no cash, no hassle, just a quick SMS to a trusted U.S.-based source. But that's just me. We'll give it a go today and see what happens.
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