PayPal is preparing a new service to enable consumers to make purchases or money transfers using SMS via mobile phones.
The move by PayPal, a unit of online auctioneer eBay, marks a big step in bridging the worlds of e-commerce and the physical world of brick and mortar stores by giving consumers a pay as you go option via phones, analysts said.
The service, known as PayPal Mobile, will be launched in the next couple of weeks in the United States, Canada and Britain. Other markets worldwide will follow for the world's biggest online payments service.
More details about the new service can be read over here.