Using Mobile Phones For Local Marketplace Purchases
TextPayMe blogs about the use of their new SMS-based mobile payment service for face-to-face transactions -- such as paying the seller when you're picking up goods you're purchasing from a Craigslist listing -- following mention of the idea in a Search Engine Journal post about Google Payments last Friday.
You inspected the sofa-bed from leg to leg at the seller's place, love the color, and decide to seal the deal. Instead of fishing out your wallet, you flip open your mobile phone, and enter the agreed payment amount of $325 while the seller watches. After you authorize the payment, the seller receives a confirmation SMS and email for $325 from you, the buyer. The transaction is complete and confirmed. You shake the seller's hands and leave with your sofa-bed.On my trip to China last year, I learned that most ecommerce transactions in that country end up involving a face-to-face meeting, inspection of the goods, often a renegotiation of the final price to be paid, and CASH payment. With more mobile phones in China than any other country on the planet, this kind of local face-to-face payment via mobile phone could be become very important
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