Zoompass axes the $0.50 transfer fee to send money

Kate O'Brien

July 29, 2010 4:08pm

Zoompass, the joint-venture between Rogers, Bell and TELUS, allows you to send, receive, request money, check balances, review transactions all from your mobile device has axed their transfer fee when sending money. When it first launched it was at a steep $0.50 per transaction… then recently put on a promo and knocked down by 50%.

However today they’ve announced they are “removing the fees on domestic money transfers and increasing sending limits, the Zoompass Wallet brings us a step closer to realizing the vision of a cashless society.” Robin Dua, President of EnStream said “There is no cost to consumers for transacting with cash today, so in this sense we feel it’s appropriate for us to remove the P2P transaction fees for the same transaction that could be done electronically through the Zoompass Mobile Wallet. By removing the P2P fees when sending funds from a Zoompass account, we open up a whole new market opportunity associated with micro transactions”.

This is good news for Zoompass customers. This action by Zoompass could be the thing that’s needed for people to embrace mobile banking/mobile payments. A recent study showed that only 20% of Canadians plan to start using mobile banking within the next year.

More here at Zoompass

  • Plazmic Flame

    So is Zoompass suppose to be a competitor to email money transfers??

  • Serge Jr Turgeon

    I received an SMS from Telus telling me to download the mobile client, since my Touch Pro 2 is on Winmo 6.5 the only to use it is on the browser … so it is almost easier to do it directly with my bank account website …

  • Heather

    I have been an avid user of the Zoompass wallet and will now use it more! The biggest barrier to adoption of electronic money transfer services like Interac Email, PayPal, and others is the fees! Zoompass got it right … if electronic transfers are not free, people will continue using cash or checks which don’t cost anything. These guys have a good vision for the mobile wallet, and I have to say I like the bold move to make transfers free. Kudos to EnStream on taking a leadership role in building the mobile payments ecosystem in Canada.

  • toysandme

    In the early days of Paypal everything was free. Once people got hooked they introduced the fees. The fees on eBay right now are terrible –not to mention the risks of fraud. They are digging their own graves.

  • Bong Sniffer

    @Heather – You clearly work for Zoompass..if not, you are not very educated on the marketplace for mobile payment transfer.

    @toysandme – Bingo!

  • apowerranger

    this never worked for me. i tried to use it and got fed up and deleted it.

  • apowerranger

    this never worked for me. i tried to use it and got fed up and deleted it.

  • Plazmic Flame

    @apowerranger – Same here, I think I tried it 2 or 3 times but really, what’s the point if I can’t use it at retail point of sale?