PayPal to offer text payment system

PayPal, the secure online payment system, a division of online auctioneer EBay is going to offer a text message payment system that will, in effect, turn your cellphone into an electronic wallet. PayPal Mobile is going to be rolled out in the next couple of weeks in the U.S., Canada and Britain very soon (bloggers and others noticed the beta test on the PayPal website). What does this mean to magazines? Well consider a scenario where teenaged Mindy is looking through her copy of Fashion 18 and sees a cute skirt. She buys it by punching in a text message on her phone. Awesome. And consider if we could get single copy buyers to read a magazine and let their fingers do the walking to pay for a subscription...