UGO Pay will initially be available in beta, giving users the ability to send and receive money from other users. Also, customers are able to load money from Visa debit cards, or Visa or MasterCard into UGO Pay.
Transfers are free and are sent via text message to any Canadian mobile phone number. Once accepted, the balance of the transfer can be kept in UGO Pay, cashed out, or used to make purchases (from approved vendors).
As the platform is currently in beta, users can expect new vendors and features to be released in the next few months across iOS, Android and BlackBerry. UGO Wallet already stores customer loyalty cards, in addition to letting users store electronic gift cards.
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