Startups
Founded in 2005, TextPayMe is an SMS payment service that lets you send money to other people using cell phone text messaging. TextPayMe lets you send money to anyone else in the US with an SMS-capable cell phone, and while phone carriers may charge for the actual text message sent/received, sending and receiving money is free while TextPayMe remains in Beta. In July 2006, the TextPayMe team started working for Amazon and, as of 2011, the site redirects to an Amazon's mobile payment website. There was no press release related to this event but it's assumed the company was acquired. Sending and receiving payments through TextPayMe is easy: simply write a text message to [email protected] with "pay amount phonenumber" in the body (i.e. to send $5 to 123-456-7890, text "pay 5 1234567890"). The service is secure as well, as each payment needs to be confirmed by a user-created PIN. To fund your transactions, TextPayMe lets you add money directly from your bank account and now also lets you link your credit card as well. Currently, the maximum amount that can be sent or received per month is $500.
Overview
Location
United States, Washington, Redmond
Investors 1
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Mentions in press and media 4
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| Jul 10, 2006 | Mobile payment service, Paymate, raises millions | Silicon Valley’s eagerness to invest in India is intensifying. In the latest move, Silicon Valley-based investors have pumped several million dollars into Paymate, a service that wants to let you make payments by mobile phone. Its service h... |
| Mar 8, 2006 | Obopay: Will let you pay for almost anything with your cell phone. Really. | Obopay is a Palo Alto start-up that boasts it will be the first service to allow customers to pay for just about anything with their mobile phones. The company is being coy with the details. We talked with Peter Kellner, a partner at Richmo... |
| Feb 15, 2006 | Everyone Send Me $5 | TextPayMe is coming out of beta on a SMS payment service (U.S. only) that allows anyone to send money to anyone else via cell phone. You simply sms the payment to another phone number. For example, to send $15.27 to a friend with mobile num... |
Reviews 0
FAQ about TextPayMe
What has the press written about TextPayMe?
Parsers VC has collected 4 articles mentioning TextPayMe, among them “Mobile payment service, Paymate, raises millions” (Jul 10, 2006) and “Obopay: Will let you pay for almost anything with your cell phone. Really.” (Mar 8, 2006).
Is TextPayMe still active?
Yes, TextPayMe is active; its latest activity on Parsers VC dates from Jul 21, 2020.