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

Chemical analysis may provide clues to cause of huge Red Deer industrial fire

Fire on April 17 caused $9 million in damage to oil and gas industrial building

New loonie reason to celebrate and educate: central Alberta LGBTQ community

The new LGBTQ2 loonie is a conversation starter and a reason to… Continue reading

C & E Trail property owner wants to use land as RV storage yard

Red Deer city council gives initial approval

Indigenous cultural centre needed in Red Deer

Urban Aboriginal Voices Society hosts annual community gathering

Red Deer youth recognized for his compassion

Blackfalds man dies after vehicle collision

MISSING: Joshua Arthur Sanford

37-year-old Ponoka man last seen on Tuesday morning

Inspired by a galaxy far, far away, these ‘Star Wars’ mementos could be yours forever

CHICAGO —The stuff of “Star Wars” —and there is unfortunately no better… Continue reading

Shoppers Drug Mart launches second online medical pot portal in Alberta

TORONTO — Medical cannabis users in Alberta can now get their therapeutic… Continue reading

Oh, yes! Nurse, Raptors look to finish series with Magic

DENVER — In response to an early call, Toronto coach Nick Nurse… Continue reading

Delay of game calls, goalie interference top worst rules for NHLers: survey

The pace and excitement of 3-on-3 overtime isn’t just a thrill for… Continue reading

Avengers get epic send-off at ‘Endgame’ world premiere

LOS ANGELES — There were more than a few sniffles from the… Continue reading

Writers’ Trust launches program pairing rising writers with established mentors

TORONTO — The Writers’ Trust has launched a program that gives five… Continue reading

Family: A potpourri of Easter egg hunts, music and politics

The election is a thing of the past. Albertans have spoken. They… Continue reading

Most Read