Bell, Rogers & Telus Announce Mobile Transaction Service

Doing business using your phone just got a bit more interesting. Bell, Rogers and Telus will be launching a new service called Zoompass. Once the software has been downloaded and installed, it will allow registered customers to send, request and receive money using their mobiles. Here's how it will work:

Money can be drawn from an account the user sets up or from their credit card. Each withdrawal will cost 50 cents from the account, or 3.5 per cent of the transaction if from a credit card. (As a result, sending dollar amounts under $15 are actually cheaper to do using a credit card.)

Zoompass accounts will be able to send or receive as much as $250 and retain $1000. Receipts will be sent and received via SMS. Aside from that, PINs are also issued to users for additional security. It's going to be a major benefit to those who do transactions using their mobiles. The announcement doesn't reveal a date yet, but we'll keep you posted once the service goes live.

Source

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