Mobile phones to be digital wallets

Mobile phones are going to become more like digital wallets, allowing consumers to send and receive money and even make some purchases like coffee and lunch.

MONTREAL — Mobile phones are going to become more like digital wallets, allowing consumers to send and receive money and even make some purchases like coffee and lunch.

The goal is to integrate consumers’ wallets into their phones, said Aran Hamilton of Toronto-based Enstream which recently launched a mobile payment service called Zoompass for consumer testing and feedback.

Zoompass works on about 45 mobile phone models, including some lower-end phones.

“We’re not just focusing on the people who have the smartphones,” Hamilton said Thursday.

Enstream is a joint venture owned by the three major Canadian wireless carriers, Bell Mobility (TSX:BCE), Rogers Communications Inc. (TSX:RCI.B) and Telus Corp. (TSX:T).

With the widespread use of cellphones, the ability to use it for payments and money transfers is seen as yet another function that helps make the device seem almost indispensable for consumers.

Down the road, people will be able to use Zoompass to pay for public transportation, Hamilton said, adding they can use it now to buy some brands of coffee.

“The whole thing will be done on your mobile as opposed to having to pull out cash or change.”

With the Zoompass software, consumers can link their personal bank account or credit card to load and transfer money.

It costs 50 cents to send money from a Zoompass account, but there’s a 3.5 per cent fee to send money from a credit card. It’s free to receive money from someone.

Even though consumers don’t have to contact their banks if they’re using Zoompass, it’s not yet clear if there will be banking fees associated with its use.

Just Posted

Parenting: Every woman will have a different pregnancy experience

Wife whose hormones are unbalanced can be unpleasant experience

Men posing as repo men attempt to steal vehicle in Red Deer County

Two men attempted to steal a utility vehicle from a Red Deer… Continue reading

Red Deerian spreads kindness with one card at a time

One Red Deerian wants to combat bullying by spreading kindness in the… Continue reading

Bowden baby in need of surgery

“Help for Alexis” Go Fund Me account

PHOTO: First Rider bus safety in Red Deer

Central Alberta students learned bus safety in the Notre Dame High School… Continue reading

WATCH: Annual Family Picnic at Central Spray and Play

Blue Grass Sod Farms Ltd. held the Annual Family Picnic at the… Continue reading

Woman has finger ripped off at West Edmonton Mall waterslide

SASKATOON — A Saskatchewan woman says she lost a finger after her… Continue reading

Uncertainty looms over Canada’s cannabis tourism, but ambitions are high

TORONTO — Longtime marijuana advocate Neev Tapiero is ready for the cannabis-driven… Continue reading

Feds mulling safeguards to prevent ‘surge’ of cheap steel imports into Canada

OTTAWA — The federal government extended an olive branch of sorts to… Continue reading

Ontario govt caps off summer session by passing bill to cut Toronto council size

TORONTO — The Ontario government passed a controversial bill to slash the… Continue reading

Updated:Italian bridge collapse sends cars plunging, killing 26

MILAN — A 51-year-old highway bridge in the Italian port city of… Continue reading

Saudi Arabia spat affecting Canadians embarking on hajj, community members say

TORONTO — Members of Canada’s Muslim community say recent tensions between Ottawa… Continue reading

Tug carrying up to 22,000 litres of fuel capsizes in Fraser River off Vancouver

VANCOUVER — The smell of diesel filled the air as crews worked… Continue reading

Nebraska executes first inmate using fentanyl

LINCOLN, Neb. — Nebraska carried out its first execution in more than… Continue reading

Most Read

Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month