At the Canadian Telecome Summit in Toronto today, EnStream LP, a new joint venture company owned by Bell Mobility, Rogers and Telus, announced the launch of a mobile phone application which lets internet enabled mobile phone users transfer money to one other (http://www.digitalhome.ca/content/view/3777/282/)

Basically a new version of PayPal Mobile so I'm not sure why anyone would bother.

Absolutely ridiculous fees. DOA.

And you have to have SMS enabled on your phone to sign up (sucks for people who have blocked it due to the Cell providers charging for receiving text).

I think this will die quickly. It offers no compelling benefits and the notion that you have to set up a separate Zoompass account and that it takes 2 to 3 days to transfer to and from your bank account is crazy.

I can email someone cash via interac in a few minutes and cash tranfer (via bank) is instantaneous. Failing that you got paypal mobile (and more people have paypal accounts than Zoompass accounts)

FYI (edited for brevity from press release)

TORONTO, July 21 /CNW Telbec/ - EnStream LP is pleased to announce that
the Zoompass mobile application is now available for download on the
BlackBerry Storm smartphone.

The Zoompass mobile application allows users to access their Zoompass
account through their BlackBerry Storm or other BlackBerry smartphones.

Zoompass is available for download on BlackBerry App World