Built on a text-to-pay technology concept, the new Xipwire service aims to enable both consumers and merchants to send and receive money via text message from any mobile phone. The Xipwire customers can deliver money from a debit card, bank account or credit card using the Xipwire accounts.
The text-to-pay service utilizes PIN authentication and can be activated by typing and sending a short code. Xipwire will text back a temporary username and password that allows the user to login and complete the account setup.
The Xipwire service will be free of charge throughout 2010.
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