The mobile wallet and mobile commerce solution created by Bell, Rogers and TELUS joint venture has itself been purchased.
Paymobile Inc., a Toronto-based financial services technology company that offers program management services for a wide range of open loop prepaid and virtual card programs.
Launched in 2009, EnStream Zoompass is a mobile-based, stored-value payment service with a companion contactless payment card linked to the same account.
Zoompass has a mobile device application, available through Apple iTunes, Google Play and Blackberry app stores, that supports person-to-person money transfers and online transactions, while the companion card allows cash withdrawals and transactions at retail locations that accept card based payments.
"Since its inception, Zoompass has proven itself a reliable and robust mobile-commerce platform," said Gino Porco, Chief Executive Officer of Paymobile. "As a leading payments program manager, Paymobile offers the tools to help Zoompass realize its full potential, and we are pleased to add it to the payment services we offer our customers. The scalability of Zoompass will allow us to expand our mobile wallet platform into numerous new countries."
Porco was the founder at another mobile transaction and application development firm, Mobilotto, which has developed mobile apps for the lottery and gaming industry.
"As the mobile commerce ecosystem has evolved, EnStream's focus has shifted to enabling established credential issuers and carriers to leverage the potential of NFC (near field communication) in mobile handsets," said Almis Ledas, Chief Operating Officer of EnStream. "The operation of a payment service is no longer required for us to fulfill our mandate. We are pleased that Paymobile, a market leader in card management and stored value payments, is acquiring Zoompass.
Paymobile enables businesses to provide their customers with a number of open loop card choices including, gift card, incentive cards, cheque replacement cards and online virtual card accounts. Paymobile also provides advanced mobile technology, enabling businesses to provide their customers with a white label mobile wallet solution, like Zoompass, with the ability to manage their card balances, bill pay, transfer funds and perform card to card money transfers in real time using their mobile devices. www.paymobile.com.
EnStream was created to deliver payment capability over the mobile handset and is evolving to become a common mobile commerce interface between Canada's mobile carriers and the Canadian ecosystem for NFC enabled transactions. www.EnStream.com