Popular Internet payment provider PayPal has announced the launch of their new mobile payment service.
The company, owned by auction giant eBay, says Mobile Checkout will allow consumers in the USA, UK and Canada to purchase items securely by simply clicking on a PayPal button on the merchants mobile internet site.
Kevinj Dulsky, senior director of PayPal Mobile commented: “As the mobile commerce market grows as an extension of ecommerce, it will be critical for online merchants to adopt a secure mobile payment platform to reach new consumers and to remain competitive in the market.”
This is not the first move by PayPal to capture the fast growing mobile commerce sector. In April 2006 they began to offer a mobile payment service using SMS, which allows consumers to buy, donate or send money from their existing PayPal account via text.
News of the service comes in the week that Juniper Research predicted mobile payments will generate transactions worth $22bn by 2011.