If you live in Canada, you will no longer require cash, credit cards or a debit card when you hit the mall.

Bell, Rogers, and Telus joined forces and are pioneering an effort to bring forth a “common standard and interoperability” for mobile money transfers across all networks

via:cbc

Mobile phone users with a plan with Bell, Solo, PC Mobile, Rogers, Fido or Telus will be able to register for the service online and then download the Zoompass software onto their phone. By using the software on the phone, they will be able to send, request and receive money to other mobile phones via SMS text messaging, or, if the other user is also a Zoompass account holder, via email.

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.)

If you are interested in enrolling check out www.zoompass.com. for more info.

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