New Ventures in Financial Services

Focus on Payments and Mobile

Enstream’s Zoompass

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4 March 2010

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Who said Canadians were only good at Hockey? This is a super service delivered by a consortium of Canada’s 3 largest MNOs. Zoompass has addressed both the distribution and bank connectivity problems that plague most global initiatives.  MNO collaboration provides customers with a consistent mobile application (embed on most phones) which can transfer funds in BOTH card and ACH networks.. both at POS and in a P2P model. Today’s announcement is around Zoompass, an NFC sticker that integrates with the existing Entream payment application shown below.  Canada now has a ubiquitous mobile payment client tied to either card or bank account on any phone … with NFC capability.

If I were to rate mobile payment solutions.. Canada gets the Silver (Japan keeps gold.. also a little bias given the recent US Olympic OT loss perhaps)… this solution is certainly in the top 3 globally with the only issue being the challenge in replicating to other countries. This may be the best kept secret of any mobile payment approach.

The software company behind this is hyperWALLET (www.hyperwallet.com) a Vancouver based payment provider with a comprehensive multi-lingual, multi-currency software platform that can deployed in either licensed or hosted model.  Beyond MNO applications, hyperWALLET also provides cross border solutions to both banks and corporations looking to distribute small value payments (commission, dividend, expense, payroll, … ) SAME DAY globally, across any multiple payment networks. To tell you the truth, I’ve not seen any other company come close to delivering same day cross border multi currency payments via ACH or Card.. their payment network resembles a “mini Citi GTS”.

Kudos to Enstream and the MNOs in their collaborative approach and in selecting a super platform for a starting point.  Man, I hate it when Canadians beat the US…

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Written by tomnoyes

March 4, 2010 at 5:36 pm

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