Mathias Entenmann

If there's such a thing as The Right Stuff for New Economy entrepreneurs, Paybox.net founder and CEO Mathias Entenmann has it. In little more than a year, the 33-year-old former captain of Germany's national rugby team has turned his vision of mobile commerce into reality. The concept: A customer decides to buy something, but instead of giving a credit card, gives out his cell-phone number. Merchants--either in stores or online--dial up the Paybox.net line or Web site and enter the customer's mobile-phone number and the amount to be charged. The customer's phone rings and an electronic voice asks for a PIN to approve the transaction. The merchant then receives confirmation that the money has been debited from the customer's bank account.

In the U.S., where everyone has a wallet full of credit cards, this innovation wouldn't be needed. But Germans don't like credit cards. They love their mobile phones, though, and seem eager to use their handsets to buy stuff when they don't have the cash. Entenmann, who worked once as a telecom specialist for Arthur D. Little Inc., wants to expand his idea to encompass everything from taxi fares to Internet commerce.