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Once you submit your information, Paymo will immediately send an SMS message to your phone and ask you to confirm your purchase by replying to the text with "CONFIRM." One final message will confirm receipt, and you'll be ready to buy hi5 gifts with reckless abandon.
As we noted in the case of MyYearbook, depending on the ages of hi5 gift buyers, chances are that parents may take the biggest hit here, especially if they're the ones footing the cell phone bills.
Of course the biggest winner is hi5, since they'll now be able to tap into to real payments for virtual goods for the 70 percent of the world's population that don't own credit cards, and the kids who sneak virtual gifts onto the phone bills that their parents pay for.
Using Paymo, a mobile payment system that's similar to the one powering MyYearbook's Lunch Money economy, hi5 members in 24 countries can now use just their phone number to cash out quickly in the hi5 Gift Store.

Clicking on the Paymo logo opens a new window, where all you need to do is enter your mobile phone number, carrier, and country. Your Paymo charges, which may seem to vanish into thin air, are actually just tacked on to your next mobile phone bill. For adult users, especially international ones, the news is perhaps a welcome development that lets them purchase virtual currency without a credit card.
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