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Zoompass offers up 50% discount when sending money

By on June 6, 2010 at 8:51am in Asides, Mobile News, Various News

The joint venture between Rogers, Bell and TELUS called “Zoompass” gives customers the ability to send and receive money (plus other stuff like request money, check balances, review transactions) from your mobile device.

We’ve been following Zoompass even before they officially launched in Canada and they have a new Spring promo going on that slashes the cost to send money. What used to be a high $0.50 per transaction is now cut in half to only $0.25.This is only a Spring promo so it’s on for a couple more weeks… hopefully they keep the cost at $0.25 after wards.

With banking by phone becoming more popular – with all the major banks now having apps, are you using Zoompass or would you prefer to have something like Square show up in Canada?

More here at Zoompass

Related posts:

  1. Virgin Mobile joins the money game… launches “Zoompass”
  2. Zoompass contest offers up $5k if you start “zooming”
  3. Zoompass to become a staple on Bell BlackBerry devices
  4. Zoompass app gets fixed spot on Rogers BlackBerry devices

Discussion

6 comments for “Zoompass offers up 50% discount when sending money”

  1. Zoomwhat? I don’t see the point.

    Between Paypal, online banking and email money transfers, cash, and old fashioned “I’ll buy next time”, Zoompass is trying to squeeze itself into a niche hole which doesn’t quite exist.

    But then to further remove itself from relevance, the service charges are exorbitant!

    Let’s pretend person A and person B are out for a coffee, both have Zoompass, but A has no form of payment at all, aside from Zoompass. Paying friend B for the venti caramel extra whip macchiato via Zoompass comes with a hefty 10% levy.

    If Zoompass has any hope of being usefull, it should reduce transaction fees to 5c under $50 and 10c over $50, after the first 5 free transactions each month.

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    Posted by Lewis | June 6, 2010, 9:41 am
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  2. Looks like a PITA – I have to move money between my bank and them, and then get charged again to put money back into my bank account. Really, what’s the point? This seems like a cool product with no market need.

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    Posted by Mark | June 6, 2010, 11:07 am
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  3. ZoompaSs is a good idea that will fail
    The fees should be charged to the retailer. The end user should just be able to use the service

    But at the costs they charge no retailer is going to pick them up.

    Wake up.
    Lower costs

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    Posted by Treatz | June 6, 2010, 11:24 am
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  4. I often question the intelligence of Canadians. We let cellcos impose three year contracts on devices that drop dead (most of the time) before two years. If we pay through the nose to buy the phone outright it is still locked to the carrier and still costs the same to use per month. It’s like buying a car with solid cash and still have to pay $500/month to use it!

    For most Canadians, using a cell phone for 61 seconds will cost 120 seconds. Why? Because we let cellcos do it… I could go on and on, and now this. I can pay cash, and often get a cash discount, or use a credit card, delay real payment for three weeks (and collect airmiles) while the other guy is using Zoompass and throwing even more money at cellcos!

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    Posted by toysandme | June 6, 2010, 4:55 pm
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  5. I set up a zoompass because it seemed like a good idea. I don’t carry much cash and do sometimes owe peeps a bit and we have a weekly “chip in” lunches. It seemed like a great way to include the people who don’t carry cash but the fees are way to high for small payments.

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    Posted by cass_m | June 7, 2010, 7:28 am
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  6. What about Interac online payments?

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    Posted by theninjasquad | June 7, 2010, 1:14 pm
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