X.com Turns Your Mobile Phone Into a Wallet
Internet Payments Leader Launches First Service for Web-enabled Phones
--From AOL. I have noticed more and more startups with QCOM and NOK as investors.-- Cooters
PALO ALTO, Calif., June 13 /PRNewswire/ -- X.com, the world's first and largest Web-based payments network, further expanded its reach and utility today by becoming the first leading online payments provider to offer its service by mobile phone.
Via the Internet browser on their Web-enabled mobile phones, individuals can now access X.com's PayPal site (www.PayPal.com) -- the most heavily trafficked financial site on the Web -- and use the company's popular email payment service to instantly and securely send money to anyone with a U.S. email address. Users can also check their PayPal account balances and review transactions real-time on HDML and WAP-capable mobile phones.
The wireless option adds another payment platform for the service's 2 million users, who already send and receive money from their PCs and with their Palm PDAs.
"Taking X.com's PayPal service wireless allows you to make or receive instant payments almost anywhere and at any time," said Elon Musk, founder and CEO of X.com. "X.com's wireless service turns your cell phone into a wallet -- now you can pay someone instantly whether they are across the room or across the country."
X.com's PayPal is the leading payment service for online auctions, accepted by more than one-third of all auctions on eBay -- well more than three times the number that accept eBay's own payment service Billpoint. Combined with eBay's recent launch of wireless bidding, today's X.com announcement means online auction enthusiasts can now win and pay for online auctions by wireless phone.
Future enhancements of the X.com wireless service will include the ability for payment recipients to receive instant notification directly to their mobile phone, and the extension of the service to other wireless devices, such as two-way pagers.
X.com's wireless service is facilitated and enhanced by strategic and financial partnerships with leading businesses in the industry, including Qualcomm, Singapore Telecommunications, and Finnish telecommunications giant Sonera. Nokia Ventures was an original investor in PayPal.com, and is an investor in X.com.
About X.com
X.com Corporation provides an instant and secure email payment service, integrated with consumer and business financial services. With a customer base of more than two million, X.com has the largest Web-based payment network and the #1 financial site on the Internet with its PayPal service, according to PC Data Online. X.com provides the preferred payment service for online auctions and for online community sites. X.com's PayPal is the only truly wireless payment service: it is accessible by Web-enabled mobile phone and can also be used to "beam" money with PDAs from Palm and Handspring.
Founded in March 1999 by Elon Musk, X.com was recently named one of the 50 Most Important Private Companies in the World by Red Herring magazine and one of the Top 25 New Companies by Fortune Small Business. Earlier this year, X.com merged with PayPal.com, the leading email payment service.
SOURCE X.com Corporation
CO: X.com Corporation
ST: California
IN: MLM TLS FIN
SU: PDT
06/13/2000 08:04 EDT prnewswire.com |
