PayPal Mobile's official launch

A month after its beta release, PayPal Mobile officially launched yesterday looking to leverage PayPal's 100 million online accounts as a way to evangelize m-commerce. PayPal Mobile enables users to text "PayPal" (729725) and enter the dollar amount they want to send to a particular vendor, charity or user ID number. The ramifications for personal banking are particularly interesting, especially since the service is free. Analysts and insiders seem to have few qualms with the service, and its advent is likely to spur a good amount of growth in the sector.

For more on PayPal Mobile:
- see the application's Web site