I’ve been a PayPal user for several years (as have we all). It’s a simple system for Internet commerce, but not without its limitations. I remember learning from a friend that the idea from PayPal came about after a shared lunch with friends – there was no easy way to split the bill. Well, PayPal did solve the problem – but not as nicely as TextPayMe does. I learned about this new service tonight from Jake. TextPayMe allows you to send and receive monies using SMS on your mobile phone. Just for signing up for a free account, they’ll give you $5. So, if you already have a cell phone today, there’s nothing to lose – and everything to gain. I can see this thing taking off relatively quickly – it’s potentially a killer money transaction service because it’s so easy to use and quick to learn. They give you a few scenarios to consider before you get an account: “Split your restaurant bills right then and there; Pay your team or club dues anywhere and anytime; Pitch in real money instead of IOUs for a shared gift; Settle your roommate’s rent and utility bills on the spot.” They even recommend using the TextPayMe service for Craigslist transactions. Try it!

Oh, I just found out they’re locals – I’ll have to get ’em on the show. There’s so much cool stuff happening in “Seattle,” as I discovered at a mixer tonight. Heck, the guys from TextPayMe could’ve been there and I wouldn’t have known it – there were so many folks in the room, few of whom I knew on any level. Lots of mobile stuff happening these days, my friends. There’s a reason I’m spending a lot of time with the Gada.be model – combining RSS, search, and a mobile platform. Americans don’t use mobile devices half as much as the rest of the world. There will come a time in the not-so-distant future where your mobile device will need to do more – and services like this one will make your communications device even more essential. The key for anything mobile is simplicity, and that’s where TextPayMe wins. Of course, it also doesn’t hurt that they’re giving away $5 for every new registration – as well as a free Xbox 360 for anybody who makes 36 referrals. So, I’d like to believe that 36 of you would love to start using this service straight away (unless you’re allergic to free money or mobile devices). Turns out, y’all loved when I wrote about my experiences with CellForCash – so here’s to hoping we can help push another cool Internet service on its merry way.

[tags]paypal,money,mobile,mobility,sms,cell phone,craigslist,transaction,textpayme,money transfer,iou,bills[/tags]