Payment Products/Services that are making "The Buzz" – Obopay

imageThere seems to be a few companies that I’m continuously hearing more and more about in the interwebs.  One such company is one called Obopay. If I had to describe it in one sentence, it would be that Obopay is like Paypal but with using your phone, instead of your email address/Paypal account.  Obopay has the tagline – "Money Transfer by Cell Phone or Web".

 

I signed up for an account today, received a text message to my cell, activated my account, and currently I’m in the process of waiting to confirm my bank account with a series of micro deposits, that I need to enter into Obopay to confirm my bank account.

Right now I can see this very useful, especially when I end up at a merchant or am at a vending machine and dry out of cash and cannot use plastic. I borrow some money, text a message to my friend, and everyone is happy.

 

The fee to transfer money recently increased from .10 to .25 a transaction, but note that this is for any transaction amount, there is not a transaction fee + % fee of transaction amount model.

 

I really don’t know how many merchants currently accept Obopay, but I suspect that this will be a popular payment option to certain market segments of consumers. Especially that it can be linked to either a bank account or credit/debit card.

After my bank account is confirmed I plan to use this when I can.

 

1)      So give it a try your self:  click the link below to get an account:

  Sign up for Obopay!

 

2)     And try a test transactions by sending me $1 below. 🙂 🙂 🙂

Send me $1 by cell

 

3 Comments

  1. making money through your blog much? Why dont you just send out an email asking for a dollar, I am not sure the difference between you and a hobo on the street asking for money.

    Hey, buddy, if you have a day job, dont quit it.

Leave a Comment.