Canadian mobile operators launch new money transfer and payments service

Zoompass has been launched by EnStream, a four-year-old mobile commerce joint venture company owned by Bell Mobility, Rogers and Telus.

Customers can access the service via the Internet, from the mobile web, or by downloading the Zoompass application to their wireless phone. At enrollment, subscribers set up a Zoompass account linked to their personal bank account or credit card. The application also interfaces with the address book on select phones, allowing users to quickly send or request money from their contact list.

Every transaction is PIN-protected and customer financial information is stored on secure servers, not on the mobile phone, adding an extra layer of security if the phone is lost or stolen.

Robin Dua, president of EnStream, says: "The Zoompass mobile service ushers in a new era in electronic payments that addresses a growing desire to move money quickly and easily between friends, family, and merchants."

Subscribers may also make purchases in stores and on the Internet by transferring the balance in their Zoompass account to an optional prepaid contactless MasterCard, issued on behalf of EnStream by Peoples Trust.