You now have a new way to repay your debts with your cellphone other than letting people make calls on it until you're out of hock, in the form of a new service called TextPayMe.
After selecting either a credit card or bank account as the source of funds, the user sends an SMS to TextPayMe with a mobile number and dollar amount, and the company either cuts a check or deposits the loot in the recipient's bank account.
TextPayMe is trying to get merchants onboard to accept this method of payment, but we think it might flourish more as another way for purchasing services and conducting transactions in the so-called underground economy, where it's not always safe to carry around large amounts of cash.