Redwood City, Calif. - Obopay, a provider of mobile payments technology, announced on Tuesday the launch of a new Sponsored Accounts service that lets children under 18 send and receive money using their mobile phones. Parents can provide funds to an Obopay account linked to their childrens' mobile phones, while retaining the ability to track and control the account -- which can be used for online purchases or to provide emergency funds.

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http://www.obopay.com