Canadian mobile network operator-owned NFC provider Enstream has sold its Zoompass mobile payments service to Paymobile, a financial technology company that provides program management services for a range of open loop prepaid and virtual card programs.

The joint venture owned by Bell, Rogers and Telus says it now has no need to operate its own mobile payments service.

“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,” Almis Ledas, Enstream’s COO, explains. “The operation of a payment service is no longer required for us to fulfill our mandate.”

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