Mobile payments - what a great idea! If it works.

I took a look at 3 companies which offer mobile payments (transferring money between mobiles), KushCash, PayPal Mobile and Obopay and here is my take on mobile payments.

First up, I can see hundreds of uses for mobile payments.  Just take a look at any of these sites and they will tell you how it can be used.  But none of these companies have perfected the concept so far.

I will start with PayPal mobile as I feel they are lagging behind the rest of the pack.  With there service you can send and receive money (between PayPal members) but the service really stops there. I want to be able to actually but things with my mobile.  You can apply for a PayPal debit/ATM card but that is only available for Business and Premier accounts.  What about the average Joe? Plus the service is only available to US residents (isnt paypal meant to be a “Global Payment Solution”)

Next up is KushCash.  They seem to have the right idea but really fall short on some important features.  First of all the only way to fund your KushCash account is with a credit card. And once again its just for US residents.  However they will give you a debit card.  Although I like the idea its still in PayPals league.

Finally we come to Obopay.  These guys will also give you a debit card to spend your money.  What I liked about the service was its simplicity yet range of features.  You can even send money requests and whats more they will even give you $5 to sign up. And you guessed it - its only available to those in the states.

I would really like to get in touch with each of the companies and ask them how they plan to expand (if at all) in the future.