More news on the PayPal Mobile service - PayPal has now officially announced the launch of the text-based cell phone service, at a wireless convention. The idea of turning the mobile phone into an "m-wallet" has attracted much interest and attention in a world that could very easily learn to live without cash and credit cards in the future.

While U.S. consumers and wireless operators have been eyeing the m-wallet and pilot-testing various systems, Japanese wireless operators like NTT DoCoMo have already run successful services that use the phone for a credit card, ATM card, apartment key, and train ticket.
PayPal President Jeff Jordan said in a statement that with the overwhelming popularity of mobile phones, the time was right to start considering the merging of e-commerce and wireless devices.