Network World's Jim Duffy reports that Verizon Wireless has announced an agreement with mobile payment service Obopay to allow Verizon customers to "receive, send and spend money via their mobile phones."

"We used to say you needed three things when you leave your house: your cell phone, car keys and wallet," says Verizon CEO Ivan Seidenberg. "Soon, you'll only need your cell phone."

"Obopay initially will run on Verizon Wireless mobile phones as an application that can be downloaded from the Verizon Wireless Get It Now online catalog," duffy writes. "After downloading the application, users will be able to sign up for the service from their Verizon Wireless mobile devices or at the Obopay Web site."

More here from Reuters ... more here from the Wall Street Journal ... more here from Electronista ... more here from Geek.com ... more here from CNET News ... more here from Contactless News ... and the press release is here.