An Update on Mobile Payments Provider TextPayMe

TextPayMe, one of the first person-to-person mobile payment services to launch (PN first covered TextPayMe on December 13, 2005), has recently enabled users to link a Visa or MasterCard to their TextPayMe account for the purpose of funding payments. TextPayMe says it is currently "designed for personal use only" and caps the amount of money that can be sent or received at $500 per month per account - but the company says it is "working to include a merchant account feature to allow our users to surpass the initial payment limits." TextPayMe is currently offering a $5 referral bonus for referring new members to its mobile payment service.