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Canada Telecoms Launch Mobile Payment Service

ScuttleMonkey posted more than 4 years ago | from the can-i-request-money-all-day dept.

Cellphones 107

GregDz11 writes to inform us that Canada's three main wireless companies will be launching a service that allows customers to send, request, and receive money via their mobile phones. "The service, called Zoompass, will be managed by Enstream, a joint venture the three carriers first established in 2005, when it was called Wireless Payment Services, to investigate the potential of mobile commerce. [...] 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.)"

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107 comments

mobile is where it's at (3, Insightful)

stoolpigeon (454276) | more than 4 years ago | (#28340837)

some day I'm going to try to explain to my grandkids about how we carried around computers that needed their own bags, that weighed 'pounds!' and they'll laugh at something so absurd.

Re:mobile is where it's at (4, Interesting)

rs79 (71822) | more than 4 years ago | (#28340869)

As if there needs to be another way to sink (lots of) money into the black hole that are commercial celphones. I'm still trying to figure out how to actually get Telus' "$15/mo unlimted text messages" to actually only cost $15/mo.

Android/wifi/skype pls hrrythfckup.

R
While my guitar gently weeps.

Re:mobile is where it's at (3, Informative)

snowraver1 (1052510) | more than 4 years ago | (#28341315)

I get free voicemail, free caller ID, Free web browsing to partner sites, and 100 text/MMS messages a month free.

If you call them (*611, free call)and complain that when you start your phone's web browser it goes to their homepage automatically, thus charging you 2 cents, when you really want to get to a 3rd party site. So in effect, a 3rd party site costs 12 cents: 10 for the 3rd party site, plus 2 to view thier homepage. You do not have the ability to change your homepage.

Ask them to just "block all partner sites". They will tell you that is not possible. Ask them to change your homepage to something else, or just not load anything at all. Agian, they will tell you that is not possible. Tell them that you are "fed up with telus nickel and dimeing you to death and that you *will not hang up until this issue is resolved*. 2 managers later, and I got a nice, permanent, perk.

Re:mobile is where it's at (2, Interesting)

Anonymous Coward | more than 4 years ago | (#28341861)

I was an early cell phone adopter, relatively speaking. I wasn't "early early" but I got one very early in the "push to mass market" phase of the Canadian business...about 1992 or 1993.

I'm so tired of cell phone companies nickel and diming me, trying to extract every last cent for every single service...roaming rates with Fido were 25 cents/minute which was reasonable. With Rogers? $1/minute. What's changed? Did costs go up with the acquisition? No....just gouging.

Contracts. They don't even discuss non-contracts anymore and Telus sends deceptive renewal letters that don't offer a "do nothing and keep your current plan" option. I mean I know that's an option, but if my mother got one of those...she'd think she had no choice but to do one of the three things, locking herself into a new contract.

When I called last time to change my plan, they told me the per minute rate would go UP. Wait a minute....isn't this supposed to get cheaper as your costs get distributed across a larger subscriber base? They're going UP by 5 cents a minute?

So...my next phone is likely to be a landline, regretfully procured from Telus but a landline nonetheless.

Suck that egg, Mr. Telus.

Re:mobile is where it's at (1)

sexconker (1179573) | more than 4 years ago | (#28341335)

Android wifi skype?

Shit son, get yourself a cellphone with Windows mobile and wifi. That shit has been available for ages.

Re:mobile is where it's at (3, Informative)

mdm-adph (1030332) | more than 4 years ago | (#28347037)

Android/wifi/skype pls hrrythfckup.

Try Sipdroid on Android. I think you'll find that it solves the problem somewhat nicely. It's not perfect, but then nothing ever is.

Re:mobile is where it's at (3, Insightful)

chebucto (992517) | more than 4 years ago | (#28340915)

Bah!

http://www-03.ibm.com/systems/z/ [ibm.com]

Computers have entered new niches over time, but no format has ever gone out of use. Mainframes are still around, as are minicomputers, workstations, desktops, laptops, and subnotebooks. Even smartphones aren't anything terribly new, being just a combination of PDAs and cell phones.

Rather, I think people will look back at our time and laugh at us for thinking that portable computers with full-sized keyboards would ever fall out of use :)

Re:mobile is where it's at (1)

stoolpigeon (454276) | more than 4 years ago | (#28341007)

I think that phones will become the heart and one will just need to come into the proximity of appropriate accessories to use them - screen, keyboard, etc.

I doubt other things will go away completely but I think the way most people interact with technology will shift. Sure mainframes still exist - but you should see the look on my daughter's face when I tell her computers used to fill entire rooms. Funnier was trying to explain to her that I didn't play video games at her age because we didn't have a console.

So I think it is quite possible that while laptops will still exist in some form that the idea of a 6 pound machine being carried around will seem odd.

Re:mobile is where it's at (3, Informative)

chebucto (992517) | more than 4 years ago | (#28341131)

Computers still fill up entire rooms!

In fact, supercomputers seem to be getting bigger:

http://domino.research.ibm.com/comm/pr.nsf/pages/rsc.bluegene_2004.html [ibm.com] (Blue Gene/L, 2004)

http://www.chilton-computing.org.uk/ccd/literature/ccd_annual_reports/p002.htm [chilton-computing.org.uk] (Cray X/MP, 1986)

Re:mobile is where it's at (1)

bertoelcon (1557907) | more than 4 years ago | (#28341659)

But a room sized computer of the 60-70s is now in like a cell phone, the size is still there, but the power has multiplied exponentially.

Re:mobile is where it's at (1)

dimeglio (456244) | more than 4 years ago | (#28341867)

some day I'm going to try to explain to my grandkids about how we carried around computers that needed their own bags, that weighed 'pounds!' and they'll laugh at something so absurd.

You should tell them about the time when you had to go inside the computer [williamson-labs.com] to repair it.

Question (-1, Troll)

Anonymous Coward | more than 4 years ago | (#28340901)

Will I be able to purchase a blowjob from a nigger prostitute using micro payments.

The most I'm willing to pay for a nigger blowjob is $5.00, and paying by cell phone would make the whole process much more convenient.

Re:Question (-1, Troll)

Anonymous Coward | more than 4 years ago | (#28341121)

Actually YES! You can definitely buy a nigger prostitute using your cell phone its called MNWS(Mobile Nigger Whores Service). The best news is that they will be charging by the inch of your dick so chances are you will get paid for each blowjob! Isn't technology great?

Cell networks being so secure... (1)

clang_jangle (975789) | more than 4 years ago | (#28340905)

...what could possibly go wrong?

Re:Cell networks being so secure... (1)

icebike (68054) | more than 4 years ago | (#28341435)

Exactly.

Lets give thieves yet another reason to hack phones.

Bad enough when they run up huge bills calling back to the home country, but now they can empty your account at the same time.

Is the phone company going to offer all the same protections that a credit card company does? Disputed charge resolution? Lost of stolen protection.

Is there any government over site?

Why let yet another bunch enter the banking business (because that is what it is) when we can't even properly regulate the clowns running banks and credit card clearing currently?

Re:Cell networks being so secure... (1)

clang_jangle (975789) | more than 4 years ago | (#28342135)

I'm glad there's at least one person left on slashdot who isn't too dim to understand what I meant. Most are busy bitching about the price. So I guess that means if it was free, or $.05 per transation, they'd just be happy to use the service. I remember when slashdotters were actually geeks, with geeky understanding of how things work...

Overpriced (5, Insightful)

Bradmont (513167) | more than 4 years ago | (#28340929)

Why would you pay $.50 to use this when transactions on credit cards and (some) debit cards are free?

Re:Overpriced (1, Informative)

Anonymous Coward | more than 4 years ago | (#28340995)

The receiver would pay that amount. This is no different than credit card/interac, who's standard fees are ~2.5% and $0.20 respectively.

Re:Overpriced (2, Informative)

MeNeXT (200840) | more than 4 years ago | (#28342199)

Interact is ~$0.05 - $0.08

Credit cards are 1.65%-1.9% unless you are high risk.

You need to shop around and negotiate.

How fast do they pay? What are the charge back fees? Can an item be contested? What are the terminal fees/requirements? .....

Re:Overpriced (2, Funny)

Hognoxious (631665) | more than 4 years ago | (#28340997)

[verizon] it's not $0.50, it's 50 cents [/]

Re:Overpriced (0)

Anonymous Coward | more than 4 years ago | (#28343041)

Actually it's [verizon]yes, 0.50$ is the same as 0.50 cents[/verizon]

Re:Overpriced (0)

Anonymous Coward | more than 4 years ago | (#28345301)

1) explaining jokes is lame
2) your explanation is wrong.
3) dollar sign precedes amount

FAIL!

Re:Overpriced (1)

Mashiki (184564) | more than 4 years ago | (#28341365)

Why would you pay $.50 to use this when transactions on credit cards and (some) debit cards are free?

I'd like to know what bank/cards you're using, most of the ones in Canada currently have a $1.50 out of bank charge, on top of a month $1.50 interac charge per use for cross-network fees.

Re:Overpriced (1)

twidarkling (1537077) | more than 4 years ago | (#28341571)

Wow, you're getting screwed.

$14/month, unlimited interac transactions, only time I get fees is when I use an out-of-network ATM. It's at the point where I use my debit card for anything and everything, as long as the business takes Interac. Cash is for the one Chinese place near work that only takes cash.

Re:Overpriced (1)

Mashiki (184564) | more than 4 years ago | (#28341699)

So are most Canadians. Big shock on that one, I'm a starving student so this kinda makes you aware of how much this stuff costs especially when you're on a student account.

Re:Overpriced (0)

Anonymous Coward | more than 4 years ago | (#28342795)

At $14/month, YOU are getting screwed.

Re:Overpriced (0)

Anonymous Coward | more than 4 years ago | (#28343833)

My father got his credit card cloned. My mother got her debit card cloned. Last month, another person I know also got her card cloned. It's true they all got their money back after a few days, but me, I pay cash. Thank you.

Re:Overpriced (1)

chrish (4714) | more than 4 years ago | (#28346629)

Wow, you're getting screwed.

$0/month, unlimited Interac transactions, unlimited online banking, etc. I've been using President's Choice Financial for five years or so and they're great (except for loans and money orders, but how often do you do those?).

I used to work for NCR, so I know how expensive (relatively) it is to process cheques compared to Interac. I'm amazed that people still pay bank fees for web banking and Interac.

Re:Overpriced (4, Informative)

Chirs (87576) | more than 4 years ago | (#28341711)

You're getting hosed.

I use president's choice financial. Interac usage is free, as is the use of any CIBC bank machine (including the little ones in 7-11 stores). There is still a charge to take out cash from bank machines not owned by CIBC.

Local Banks Rock (was Re:Overpriced) (1)

Laebshade (643478) | more than 4 years ago | (#28343721)

Local banks are where it's at. My local bank covers all atm fees. I can use it anywhere in the world at atms that take Pulse/Star; the only catch is, I have to initially pay for it, but once the transaction clears, they refund the atm fees. Checking is free, unless I go negative, of course. But being able to overdraft in emergencies is useful.

Re:Overpriced (1)

Mashiki (184564) | more than 4 years ago | (#28343741)

That's the standard interac transfer fee between banks, or machines not owned by that bank which I was talking about. So I'm not getting hosed. It's Canadians as a whole.

Re:Overpriced (0)

Anonymous Coward | more than 4 years ago | (#28344633)

ol um...or he could have been talking about sending money from one bank account to another via interact? Maybe you need to check up on that (1.50 per send) before misunderstanding

Re:Overpriced (1)

Bradmont (513167) | more than 4 years ago | (#28342817)

I use a Credit Union (I'm Canadian). I don't pay any service fees at all, except when I take money out of another bank's ATM.

Re:Overpriced (1)

korean.ian (1264578) | more than 4 years ago | (#28343175)

Yep. VanCity credit union member here. One of the things that appealed was precisely the lack of fees. Coming from South Korea, the fees that banks charge here are highway robbery.

Re:Overpriced (1)

corychristison (951993) | more than 4 years ago | (#28346827)

I use my local Credit Union as well. They rock. $5/month unlimited everything included(web/atm/interac). Upto $1500 immediate withdrawal after deposit in ATM and $2500 maximum daily withdrawal.

I used to be with RBC. I used them for 16 years and it wasn't until recent when I tried to buy a new car (vs paying cash previously on used cars) that I ever had any problems. RBC wouldn't even bat it's eyelashes at me when I applied for a loan. I ended up going through Wells Fargo (through the Dealer -- that was my biggest mistake) on a 6 year loan and a 19.5% interest payment. After 9 months of paying $418/month on my loan but only $160 of that was going on the principal I decided to shop my options. I went to the Credit Union and after a week or so got a loan to buy out Wells Fargo. $16,000 @ 5.75% interest means I have the car paid off in about 3 years instead of 6.

I've since moved all of my banking and the wife's banking to the Credit Union.

Re:Overpriced (2, Insightful)

UnknownSoldier (67820) | more than 4 years ago | (#28341401)

Exactly. And companies wonder why micro-trans won't take off here in the Western World.

In a digital world there is no reason why it should cost more then $0.01.

Re:Overpriced (1)

Ertman (29767) | more than 4 years ago | (#28341417)

It's cheaper than PayPal. It's cheaper than Interac Email. Heck, it's cheaper than the ATM transaction fees to taking out cash. Too bad it is yet another bank account to manage. It would have been nice if they had buy-in from Interac for this.

Re:Overpriced (1)

icebike (68054) | more than 4 years ago | (#28341421)

Why would you pay $.50 to use this when transactions on credit cards and (some) debit cards are free?

Because Carlos does not take credit cards and you don't want to go to his street corner carrying cash.

Because it is not for that (2, Interesting)

brunes69 (86786) | more than 4 years ago | (#28342981)

Your buddy who you owe $20 for the beer and pizza run does not take Interac or credit cards. That is the target market for this.

Once this hits Verizon... (3, Funny)

swanzilla (1458281) | more than 4 years ago | (#28340957)

...I can get hosed for random charges more conveniently. And pay 50 cents to do so!

Re:Once this hits Verizon... (1)

Yvan256 (722131) | more than 4 years ago | (#28343085)

swanzilla: I can get hosed for random charges more conveniently. And pay $0.50 to do so!
Verizon: yes, the fee is 50 dollars per transaction.
swanzilla: no, $0.50, as in 50 cents
Verizon: yes, that's what we said.

Mobile phones. (-1, Troll)

Anonymous Coward | more than 4 years ago | (#28340979)

What is it all about? Is it good or is it whack?

40 cents too much (4, Interesting)

shking (125052) | more than 4 years ago | (#28340981)

If they're hoping to take over a significant share of transactions between private individuals (aka "consumers"), they're in for a rude shock. The service is grossly overpriced. Cash is free and most people get a certain number of free cheques / free withdrawls on their bank plans. Ten cents a transaction *might* be cheap enough

Re:40 cents too much (0)

Anonymous Coward | more than 4 years ago | (#28341045)

where's the "+1 True Dat" mod?

Re:40 cents too much (1)

Nikker (749551) | more than 4 years ago | (#28341159)

The main idea of not using cash is for the credit companies to collect the real cash and substitute that for credit. The fewer transactions that are done using paper the more credit will consume your actual money.

Re:40 cents too much (0)

Anonymous Coward | more than 4 years ago | (#28341293)

You forget - this is Canada, where it's our God-given right to be gouged by banks, telcos, etc.

Re:40 cents too much (1)

BikeHelmet (1437881) | more than 4 years ago | (#28341617)

Paypal is 30 cents, and... 1.5-2.5%. You can't go beyond that before you're just being unrealistic.

50 cents? 3.5%? Bleh!

Wrong. I take it you are an American? (2, Insightful)

brunes69 (86786) | more than 4 years ago | (#28342269)

From the sounds of it you are an American.

Canadian's don't carry cash. Period. At least not Canadians under 30. This is one area in which the US and Canada are vastly different... cash is now hardly used for any transactions in Canada anymore, at all.

This service is actually very well priced because it is competing with E Interac email money transfers in Canada (EMT). Most banks charge you $1.50 to send an EMT if it is not covered by your banking plan. 50 cents is much less.

I can tell you right now, this service is going to be immensely popular.

Re:Wrong. I take it you are an American? (2, Interesting)

Yvan256 (722131) | more than 4 years ago | (#28343093)

+10 informative about the "most Canadians under 30 don't carry cash" (I'd even say 35 or 40). I'm 37 and I find it odd when I have paper cash in my wallet.

Re:Wrong. I take it you are an American? (1)

korean.ian (1264578) | more than 4 years ago | (#28343241)

I'm Canadian and I carry cash almost everywhere. It is my preferred method of completing financial transactions, because of the fees that banks charge. Although I'm 34, so I guess I'm an oldtimer by your metric.
And this service is insanely overpriced when you compare it with anywhere that doesn't have government sanctioned monopolies:
http://www.businessweek.com/magazine/content/04_39/b3901068.htm [businessweek.com] (look at the date on that article...).

Re:Wrong. I take it you are an American? (1)

brunes69 (86786) | more than 4 years ago | (#28343365)

I am sorry to say, but you are rapidly becoming the minority. I don't know of a single acquaintance of mine who ever has more than $20-$40 in their wallet. Everyone pays for everything with debit or credit card. The only time I have used cash in the past 6 months, is to pay a cabbie, and at the bar (where there is still not a quick enough payment option - but soon paypass et. al. will take that market over too I think). Even the cabbie was unusual because I almost always use debit in the cab.

Re:Wrong. I take it you are an American? (1)

shking (125052) | more than 4 years ago | (#28344615)

You're missing the point. Canadians *BUY* things via debit, and the transaction is FREE because our bank plans cover the debit card transactions. 50 cents is a lot more than free, especially if it's that small transaction we all carry around that $20 for. Secondly, Canadians don't use debit cards to pay each other.... and it's very unlikely that they'll spend 50 cents to RECEIVE a few bucks

Re:Wrong. I take it you are an American? (0)

Anonymous Coward | more than 4 years ago | (#28344929)

You're missing the point. Canadians *BUY* things via debit, and the transaction is FREE because our bank plans cover the debit card transactions. 50 cents is a lot more than free, especially if it's that small transaction we all carry around that $20 for. Secondly, Canadians don't use debit cards to pay each other.... and it's very unlikely that they'll spend 50 cents to RECEIVE a few bucks

Um...the transactions are FREE (emphesis yours) too (assuming you are talking about the prepaid card...since that's the only way you could even buy anything from this service).

Fee's [zoompass.com]

It's only costs you money when you send money from you to another person, which ALREADY costs you money now (I do this quite often and it costs me a 1.50 each time via interact).

Re:Wrong. I take it you are an American? (1)

mkendall (69179) | more than 4 years ago | (#28344767)

Canadian's don't carry cash. Period. At least not Canadians under 30. This is one area in which the US and Canada are vastly different... cash is now hardly used for any transactions in Canada anymore, at all.

I think perhaps you are overstating the case. I rarely have less than a couple of hundred dollars in my wallet, and I see people pay with cash in supermarkets and so on probably around one third of the time.

And if you never pay for anything with cash, how do you accumulate change for parking meters and such?

Re:Wrong. I take it you are an American? (1)

brunes69 (86786) | more than 4 years ago | (#28345827)

Where do you live that still has analog parking meters?

I'm in middle of nowhere NB and nearly all our parking meters are digital now and take debit/CC.

Re:Wrong. I take it you are an American? (1)

bogjobber (880402) | more than 4 years ago | (#28344889)

Canadian's don't carry cash. Period. At least not Canadians under 30. This is one area in which the US and Canada are vastly different... cash is now hardly used for any transactions in Canada anymore, at all.

How do they pay for drugs?

Re:Wrong. I take it you are an American? (0)

Anonymous Coward | more than 4 years ago | (#28345619)

Wow, there's obviously something wrong with me then. I'm 20 and I _always_ carry cash.

Re:40 cents too much (0)

Anonymous Coward | more than 4 years ago | (#28345779)

And 3.5%
What is the interest you get for a money in the bank per year - and they want 3.5% in one hiT!
There again PayPal is also money grubbing - about 3.5%.

I don't know why there is not competition (Bar the private Visa/Mastercard deal with Walmart) when the card companies did something unsavory, but kept things under the table - so far.

Trust issues... (5, Insightful)

greed (112493) | more than 4 years ago | (#28341029)

I'm having trouble thinking of an organization I trust less than Canada's telecoms companies to handle my money.

Has Bell figured out how to deal with incorrect direct payment transactions? When it happened to me, I had to have my bank block all transactions originated from Bell. Bell couldn't figure out how to identify the account making the bad transactions on their own--they actually needed the "payment refused" bounces from the bank. (They've got check-digits on account numbers now, but can they fix a problem from their end yet?)

A friend on Roger's discovered his phone had been cloned. The Roger's people thought that there was nothing odd about his phone being used in Toronto and in south Florida at the very same time. (The small claims judge did think that was odd.)

Re:Trust issues... (1)

Jucius Maximus (229128) | more than 4 years ago | (#28341825)

"I'm having trouble thinking of an organization I trust less than Canada's telecoms companies to handle my money." You can say that again! I trust the telecoms even less than the Federal Government, and that's saying a lot!

Re:Trust issues... (1)

failedlogic (627314) | more than 4 years ago | (#28343555)

In any case, I don't think the cell providers in this "mobile payment service" will be reputable. IMO there's a whole security issue alone without going into talking about the carrier. To me, the problem is I don't see the carrier being held to the same standards and practices as banks. Hasn't happened to me, but get your debit account wiped and you're in for a serious headache trying to get the money back. Think its going to be easy getting your mobile payment service money back if there's an eavesdropper, bad employee or carrier billing error?

Aside relating to your post greed:
I worked for Rogers on the non-Wireless services side. It, like other companies, depends on who you get on the phone, how knowledgeable they are and where you are calling. Yes, where you are calling. There were different offices and some performed better than others.

I'm not signed up for any Rogers services right now and I left the company more than 5 years ago (so I believe there are no conflicts of interest at this point). I have a cell w/ another provider but Rogers would be as good as current carrier. It only took me a few interactions with Bell to realize that they, as a whole, need to do some *major* restructuring at all levels. To say that their service is piss poor would actually be a compliment - I would rate it significantly lower.

Re:Trust issues... (1)

greed (112493) | more than 4 years ago | (#28347249)

I'll agree with you there. It's not the choice of steak or s**t for dinner, it's whose s**t you want for dinner. In my case, though, Roger's service doesn't work well in my neighbourhood; it's almost like there's one missing tower in the GTA and I live where it should go.

It doesn't help that the "competing" cell companies in my area are just re-sellers on Bell's towers. Maybe it's Bell's equipment I don't like? (At least, ever since Roger's borged Fido.)

I was so hoping Teacher's Pension would buy them and break them up for spares.

mobile wallet (5, Funny)

Bradmont (513167) | more than 4 years ago | (#28341035)

FTA:

The venture is the first tentative step toward a true mobile wallet

My wallet has been mobile for years already...

Re:mobile wallet (2, Funny)

Time_Ngler (564671) | more than 4 years ago | (#28341247)

Sorry dude. I meant to rate this as funny but I accidentally hit overrated, so this reply will undo what I've done. So please accept this personal review of your comment. It is a quick witted humorous note.

One More Thing: +1, Helpful (-1, Flamebait)

Anonymous Coward | more than 4 years ago | (#28341039)

Get the North American cell phone service providers ( and thieves) to establish one-way charges as occurs in Europe rather
than the current charges to both receiver and caller.

Of course, an important first step would be to jail the Criminals-In-Congress.

Yours In Socialism,
Kilgore Trout [youtube.com]

quite surprised to see this appear as a new servic (1)

blauwbaard (1577401) | more than 4 years ago | (#28341057)

Myself I was really under the impression this was available everywhere. Have been developing something to use this for a while now : https://www.tunz.com/ [tunz.com] Operates as a Belgian bank There is more in other EU countries. Maybe should have reported this about two years back, my offence, not an active poster, only a slashdot reader. Many apologies.

Re:quite surprised to see this appear as a new ser (1)

camperdave (969942) | more than 4 years ago | (#28341389)

North America is somewhat backwards in terms of cell phone capabilities and uses. Apparently too many people here see them as something you use to talk to people on.

Re:quite surprised to see this appear as a new ser (1)

twidarkling (1537077) | more than 4 years ago | (#28341601)

You'll find that regularly, something that's commonplace elsewhere is reported as new on /. when it gets to North America, the United States in particular. Trust me, this is new in Canada.

Not that I'm going to use this service in any way, shape, or form.

Opt-In Stupid Tax? (0)

Anonymous Coward | more than 4 years ago | (#28341151)

They've done studies with scans of a human's brain when they spend significant amounts of cash. When you use physical currency, it actually brain activity similar to pain. When you use credit cards, it's registered, but much less. When you make a waving motion, it's a barely noticeable response at all.

On top of that, charging 50 cents per transaction? This is more of an opt-in stupid tax.

Re:Opt-In Stupid Tax? (0)

Anonymous Coward | more than 4 years ago | (#28341255)

I must like pain (or privacy) .... cause the vast majority of my transactions are cash.

If it hurts you to pay for something ... you're likely overspending.

Usual 2 problems: (3, Insightful)

Seth Kriticos (1227934) | more than 4 years ago | (#28341221)

1. They are too greedy and don't realise that only very few people would use the service at this rates, which effectively ruins the economy of scale calculations.

2. You can't limit the debt you get, which increases the loss in cases of fraud. This should work like pre paid cards where loss is limited.

Rogers handle my money? (1)

101010_or_0x2A (1001372) | more than 4 years ago | (#28341231)

It takes me for ever to just get their customer service to figure out my iPhone plan, and to walk me through the details of other existing plans so I can make an informed decision, and they expect me to trust them with upto $1000 of my money? And I can only imagine how much more their customer service will suck after we include the complication of handling live money via bank accounts and credit cards, Not to mention that this is certainly not a free service, and Canadian providers have been widely slammed by Canadian consumers for having exorbitantly priced plans to begin with. While this is a cool idea, it will take a LOT of convincing to get decently savvy customers like myself to trust what they say anymore. Maybe my 6 GB plan will include this feature!

Free? (1, Informative)

Anonymous Coward | more than 4 years ago | (#28341233)

How come, when I was in Japan, I could use such a system without any fees? I know, it didn't work exactly the same way but it offered the same advantages and fast payment.

3rd world countries have something to boast about (0)

bogaboga (793279) | more than 4 years ago | (#28341357)

So Canada only realizes now that such a service makes sense? No wonder it has slipped from a near the top position in terms of technology penetration to near bottom.

Companies like Nortel Networks, Corel and others are shells of their former glory!

Even 3rd world countries like Nigeria, Kenya, Uganda, Tanzania and many others have had such a service for years!

To make matters worse, the service is still riddled with restrictions.

Canadians...wake up!

Re:3rd world countries have something to boast abo (1)

twidarkling (1537077) | more than 4 years ago | (#28341625)

I fail to see how this service is actually useful, though. We've widespread POS interac terminals. We don't really have a NEED for this. Even for transfers between individuals, this service pales in comparison to other methods.

NFC chips....here we finally come! (1)

sitkill (893183) | more than 4 years ago | (#28341461)

The pricing for this is ridiculous...and I don't know if I'd want to trust Telus or Rogers with anyone more than they already have. By itself, I don't think this would work at all, but I'm totally pumped for the future. This just is one step closer to FINALLY getting NFC (near field contact) chips into phones. I can't believe that Japan and Korea have had NFC chips for years, and we've JUST started down the same path...

Paying to spend money... (2, Insightful)

fremean (1189177) | more than 4 years ago | (#28341741)

I honestly hate the thought of paying money to spend money - surely it costs less to maintain a bank of computers then it costs to count and sort notes and coins. So many things have fee's for "digital" transactions these days - when in truth you're saving them a fortune (eg: cinema, $1 fee to buy and print your own ticket, 1: You're saving them staff at the counter, 2: You're saving them actual costs of printing the ticket. - and don't start with the "oh credit card fee" or "online processing costs money" cos surely if I were to pay with my credit card at the counter they'd cop the same fee)

Re:Paying to spend money... (0)

Anonymous Coward | more than 4 years ago | (#28342157)

People seem amazingly unaware that banks also charge business customers to deposit cash (& more for change). Transaction fees are just a cost of doing business.

Re:Paying to spend money... (1)

jonwil (467024) | more than 4 years ago | (#28344853)

Thats the OPs point, that it likely costs the cinema more (staff, counting the money, whatever) when you buy a ticket from the ticket counter than it does when you buy on-line yet you the consumer pay more for the on-line ticket (which is cheaper for the cinema) vs the paper ticket (which is more expensive for the cinema).

Although it may be that they want to encourage people to buy the ticket at the box office since those people are more likely to buy the popcorn, chips, cola and other products that are sitting there on the counter right next to the ticket seller.

Re:Paying to spend money... (1)

hey (83763) | more than 4 years ago | (#28342891)

I agree. I won't be using this service unless I really have to.

What's the purpose? (2, Insightful)

thethibs (882667) | more than 4 years ago | (#28342809)

Compared to cash:

  • It's not anonymous. Every transaction will be recorded, and if there's a way to analyse and use that information against you, someone will.
  • It's not secure. The transaction data is radiated in all directions.
  • You're liable if your account is hacked.
  • 50 cents for the transaction, 15 cents each for the SMS message at each end = 80 cents per transaction versus nothing for cash.
  • One more thing that doesn't work if your battery is dead or you're out of range.
  • You still have to carry cash to deal with people who aren't part of the program.

This is as bad an idea (for the consumer, that is) as debit cards.

Re:What's the purpose? (0)

Anonymous Coward | more than 4 years ago | (#28344103)

and we've seen how much of a failure debit cards have been :eyeroll:

Walled garden (0)

Anonymous Coward | more than 4 years ago | (#28342895)

"Mobile services" like this are fundamentally wrongheaded. If someone wants to build a payment service, that's great, but they should do it over the Internet and make sure it's usable from any Internet-connected device, mobile or otherwise. My mobile carrier's job should be to move the damn packets and stay out of the way of anything at the application layer.

Hugely popular in Africa (1)

batje14 (1018044) | more than 4 years ago | (#28344871)

Mobile Money is hugely popular in Africa, where the banking system is archaic, expensive and inflexible, but everybody has a mobile phone. The biggest success story so far is called M-Pesa http://en.wikipedia.org/wiki/M-Pesa [wikipedia.org] in Kenya. But more and more providers offer these services. A company called Zain http://www.zain.com/ [zain.com] now offers international mobile transfers within their network. Glad we are exporting some experience.

We have been doing this in Africa for years! (0)

Anonymous Coward | more than 4 years ago | (#28345491)

Hey guys,

This is not new, we have been doing this Africa for a while now.

Credit cards and debit cards have not been as widespread ... while mobile phones are.

To satisfy the security kremlins, these where initially done on SIM Cards, but now USSD etc are more common.

R

Already done in Africa (1)

mariushm (1022195) | more than 4 years ago | (#28346857)

This was already done in Africa, there was even a documentary about it on TV.

http://www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID=160576 [ghanaweb.com]
http://whiteafrican.com/2008/09/26/if-it-works-in-africa-it-will-work-anywhere/ [whiteafrican.com]
http://ghanabusinessnews.com/2009/04/15/electronic-payment-another-use-of-mobile-phone-technology/ [ghanabusinessnews.com]

If I remember correctly, users just had to set a different service center number (the number that receives the SMS messages) and send a sms with a text like *pin*100 to the phone number that's supposed to receive the money and that person would receive 100 in the currency of that country. Both parties would receive an SMS back letting them know that the money was sent / that they received the payment.

The documentary was showing lots of happy truckers who were no longer worried of going tens of miles through desert to deliver stuff and return with loads of money on them, they just delivered the cargo and ask the other person to sms them the payment instantly.

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