Obopay today officially unveiled the first complete mobile payment service ever offered in the United States and its service will be a milestone in a transformation in financial services that will make the mobile phone the central device consumers use to make purchases and share money.

Obopay is capable for the person-to-person transfer of money on the mobile device and the ability to get instant access to money on the phone with a companion debit card. The card can also be used at any retail establishment that accepts MasterCard. Consumers can begin downloading the service to their wireless handsets on April 15.

Once consumers download Obopay, they will be able to manage their entire account from the mobile device -- transferring money, checking their balance, reviewing their transaction history and more. 

Obopay also said it is currently engaged in working trials with major wireless carrier companies and expects to complete those trials and the ensuing qualification programs in time to be offered by major wireless operators before the end of the year.

The Service

Once consumers have downloaded Obopay to the phone, they'll access all Obopay services and features in an interactive window on the phone. With a few simple keystrokes, Obopay users will have at their fingertips the ability to: 

• Get Money:  Obopay users can also receive money from any mobile phone user who is using Obopay. The funds are deposited immediately over the Obopay network so recipients get immediate, instant access to newly received money. 
• Send Money:  Obopay users can send money to almost any mobile handset. Transactions occur instantly and the Obopay balance is updated immediately. No need to visit the web. No need to make a trip to a money transfer agency. The transaction costs just pennies. 
• Spend Money:  Obopay account holders can also make purchases and get cash using a companion debit card. Once Obopay users receive money in their phone, they can use their card at any retailer that accepts MasterCard transactions. These purchases and cash withdrawals are recorded immediately and instantly on their Obopay balance.

via darlamack.blogs.com