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Send money to friends and family
Send money securely, anytime, from wherever you are. You don’t need cash or a check – just your phone.
After you activate your phone, you can send money one of two ways:
- Text to 729725 (PAYPAL) with the amount and recipient’s phone number.
Example: send 5 to 4150001234
- Call 1-800-4PAYPAL (1-800-472-9725) and follow the instructions.
So they would have to steal your phone and know your pin number. If you lose your phone, you can log in and change your pin, deactivate that number, OR just report it as being stolen.
Since you are only sending money to another Paypal account, I imagine a prompt report of a stolen phone would (based solely on my past experience with Paypal) cause all involved accounts to be frozen for six months for an "investigation" that results in the money being returned to your account and nothing else occuring.
That trick works with most paypal info links. I posted about this earlier in the "ebay gets RSS [webmasterworld.com]" thread.
ebay/paypal lately is adding alot of new little features, seemingly to brace for Google's attack on their market with "Google Base" and "Google Payments". Competition is finally making ebay/paypal improve things, albeit trivial.
Paypal cannot compete with "google payments". Many people ask "what is paypal" whereas every internet user knows google.
What? That's rubbish. Paypal is the market leader in handling financial transactions on the internet. Every internet user may have heard of google but how many do you think have heard of "google payments"?
The paypal payments system is integrated with eBay, the leading marketplace for buying and selling goods on the internet.
Try as it might Google won't be able to sweep all that away overnight.
Every internet user may have heard of google but how many do you think have heard of "google payments"?
introduced that service earlier than paypal, but i guess it will be hard for them to compete with that war chest and marketing power...
[edited by: lorax at 1:34 pm (utc) on Mar. 24, 2006]
[edit reason] no need for DN workaround [/edit]
I for one think it´s a great idea, perhaps PayPal will be able to attract new customers that wouldn´t use the service otherwise. In the long run that means new customers for businesses using PayPal.