mFoundry and PayPal have inked a deal with Sprint to offer person-to-person mobile payments. The service from Sprint, called MyMoneyManager, lets PayPal users and Sprint subscribers send money to other persons who have an email address or mobile phone number. When a person receives money they get a message or voicemail to let them know they received funds. To access the funds, however, the person must have a PayPal account.
Sprint's MyMoneyManager is available on some 18 phone models from four manufacturers, including LG, Motorola, Samsung, and Sanyo. Phones must be Java-enabled and support https with 128-bit encryption. The service soft-launched at the end of March, but is now officially available.
For more on the service:
- read about mFoundry in today's Fierce 15 awards
- read this article from Digital Transactions