A new mobile payment service via e-mail, SMS was launched today in New Zealand. pago (with lower case "p") sounds interesting, and similar to PayPal, without the automatic load of funds from a credit card.

I was going through their Terms and Conditions and found this gem:

We may decide not to let you have the pago service at any time and we do not need to tell you why.


Not very user friendly to start with. I would imagine these folks have followed the problems caused to PayPal on its policy of freezing accounts with no reason or without telling customers why. Have they ever heard of the PayPal Class Action in 2005/2006 (hey, I got a few dollars in my account as one of the people in this lawsuit!).