I second that wow! Talk about "turning over the napkin" :-) of mobile payment. I'll have to try this, but it sounds very cool and amazingly enough it sounds like it works in Canada from the get go!
Wow. I just picked up the news about PayPal mobile from Russell Beattie and MobileCrunch. Now you can use SMS to make any kind of payment to anyone who has a phone. You simply text 729725 with "SEND x to yyyyyyyyyy" where x is the amount, and yyyyyyyyyy is the recipients phone number. A couple of seconds later your mobile rings, you enter your pin number, and press 1 to authorize the transaction, and you're done. Easy-peasy!