Other ways to send a payment

It seems that alternatives to the current expensive credit and debit transaction systems are evolving http://www.reuters.com/article/idUSTRE6710IH20100802.

The arrival of paypal, and iTunes suggests that companies are looking for a better faster cheaper way to let the money flow.

I have always said that the Phone company billing system is remarkably capable in being able to charge for essentially a micro-transaction (under $.10). Since the cell phone is an extension of the phone company billing system it seems logical that I should be able to send a payment from your phone to mine without having my bank contact your bank and settling the details…