PayWi Launches Mobile PaymentSystem

PORTLAND, Ore. - (02/13/06) – Local start-up PayWi hasintroduced a system that will allow consumers to shop and pay billsover the cell phones. Under the company’s system, consumersmust sign up online and provide their personal and paymentinformation, allowing them to use their account anywhere to settlea bill. To do so, they would log in using their cell phone, enter amerchant’s location and how much the bill is, who is supposedto be paid and a five-digit PIN. Then the money will be transferredfrom their credit union or bank account to therecipient.