Why Zoompass Could be a Marketer’s Dream
This weekend, Zoompass™ was launched in Canada by the three leading Canadian wireless operators – Rogers, Bell and Telus. It’s a money transfer system for mobile phones – yet it could also become a marketer’s dream.
What is Zoompass?
A collaboration between the three leading wireless networks in Canada, Zoompass is a new application that you can either download to your mobile phone or use via both mobile and standard web.
What it then allows you to do is to receive or send money, as well as make purchases, check your balance and more. This is all carried out by the Zoompass network, a secure online transfer system using PIN password access. Because the system uses both Java and Wi-Fi technology, any web-enabled mobile phone can use the system.
So now friends can send each other money, split bills at restaurants, pay for sports events, etc, and it’s easier to split the payments. It uses your existing contacts information to select users easily. And because Zoompass uses its own money account to store funds, nothing need come from your own bank account.
As well as the mobile system, Zoompass also offers a pre-paid Mastercard® that users can top up and use to make purchases in-store and online.
So Why Should Marketers Care About Zoompass?
Because Zoompass is a collaboration between Telus, Rogers and Bell, this means that users of their subsidiary networks can also use the service. These include Fido, PC Mobile and Solo – or, in numbers, more than 21 million users.
21 million.
Imagine a partnership between your business and Zoompass that allows users to opt-in to a recommendation service.
So they’re using their mobile app to browse electronic stores in the area to buy an iPod from, and your sponsored flyer pops up. Or you’re a cab company that’s an official Zoompass partner and not only is your number the first up for cabs in a particular location, you also accept Zoompass payment via your on-cab register.
Another option could be that anyone using the Mastercard option receives loyalty points from Zoompass-enabled retailers, keeping the customer coming back to you and Zoompass offering you (the vendor) priority.
It’s obviously early days for the application but the potential could be huge. And with the pre-paid Mastercard offering international use of Zoompass, it’s not just restricted to Canada – more good news for marketers.
Check out the Zoompass website and blog for more information.
11 Responses to “Why Zoompass Could be a Marketer’s Dream”
Cheers Dave. It’s one of the things I love about new and forward-thinking technology apps; I seriously think the potential can be huge for companies that really think outside the normal web or mobile app use.
If Zoompass can keep it simple and appeal to the folks that use apps as if they’re second nature, yet also the common consumer, I think they could have a pretty powerful tool on their hands.
Look forward to seeing where it goes.
Mobile phones & finance go together great and is the way of the future. This is a brilliant idea and financial institutions are working hard on finding ways to securely implement the mobile technology with their systems.
Lots of great “tests” out there. I know my company is working on a new technology to combine these two models as well.
Who wins? The consumer.
.-= Kasey Skala´s last blog post …Why research is important =-.It does seem to make more sense – common sense – that the easier something is to use and access, the more people will take it up.
If Zoompass shows that it’s easy to pay for something as well as receive money and businesses are encouraged to accept mobile Zoompass payments as well as the pre-paid credit card ones, then I think they could be onto something really good.
Like you say, if it’s not Zoompass this time around there are others waiting in the wings, and the consumer wins. Which is what every successful business trades off.
My colleagues and I discuss the need for something like Zoompass all the time, like the ability to split a bill amongst friends and especially the opt-in recommendation service.
One of the companies I work with, Touchpoint Technologies, provides opt-in direct marketing for small businesses and it would be great to be able to build a network of participating merchants and integrate a mobile device payment option. It will be interesting to see if Zoompass is used in that way.
Thanks for the article! When is the U.S. launch?
Hey there Nick,
I’m not sure about a U.S. launch at the moment, since it’s a Canadian mobile solution. However, if you check in with Dave Fleet who has commented above, I’m sure he’d be happy to offer any info.
Thanks for stopping by, and Touchpoint sounds an interesting possible collaborator.
Hi Nick,
Thanks for your feedback! You’re right – splitting bills between friends, or collaborating on buying a gift, or even collecting membership fees for your soccer team, are great examples of uses for Zoompass.
Re: the U.S. – right now we’re focused on our initial launch in Canada and getting feedback from Canadians so we can help to make Zoompass even more convenient and useful.
Dave
.-= Dave Fleet´s last blog post …How can I use Zoompass? =-.
Another example of who advancing mobile technology
http://www.americanbanker.com/btn_article.html?id=20090526PY2Z88GU
.-= Kasey Skala´s last blog post …What about the small brands =-.I don't think there are 21 million potential users, but rather 21 million phones out there, so that's an overestimate.
“And because Zoompass uses its own money account to store funds, nothing need come from your own bank account.”
Are you saying that this is an advantage? Although they can make it convenient, it seems annoying to now have to manage yet another “bank account”. IMO, the strongest part of the product today is the free prepaid reloadable Mastercard.
If you work on the possibility of one phone per user, then the numbers add up (although, like any new product, essentially a guesstimate).
And if you're out and you need to pay for something, most people always have a phone with them so it's really convenient. A prepaid credit card is an alternative but these can often be expensive with monthly upkeep fees on some of them.
This is why I like your site, Danny – always thinking creatively.
Thanks for the post. Disclosure: I’m part of the TFC team working with EnStream to launch Zoompass.
As you say, it’s early days but we’re looking forward to receiving feedback from people so we can help to make Zoompass even better!
.-= Dave Fleet´s last blog post …Introducing Zoompass =-.