BlackBerry Announces Three Year Agreement With EnStream To Support Mobile Payments

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BlackBerry announced today that they have entered a three year agreement with EnStream LP to support Mobile Payments Management Services. Enstream LP is a joint venture made up of Canadian Carriers. My neighbors to the north already have a few options for using mobile payment on their NFC equipped smart phones, and even those without the right combination of banks and carriers that support it, are still able to see what it would be like while making their daily purchase of Timmy Bits, With this new agreement, it looks like mobile payments will be a wide spread occurrence sooner than later. And BlackBerry will be at the heart of it.

Now, if we could just get this in the US!

See BlackBerry’s press release below:

BlackBerry Expands Commitment to Mobile Payments Management Services

Company Announces Three-Year Agreement with EnStream to Support Secure Financial Transactions

Waterloo, ON – BlackBerry Limited (NASDAQ: BBRY; TSX: BB), a world leader in mobile communications, today announced a new three-year agreement with EnStream LP, a mobile payments joint venture owned by Canadian wireless carriers Bell, Rogers and TELUS, to provide a secure platform that supports transaction services between leading banks and consumers.

Under the agreement, EnStream will leverage BlackBerry’s proven and reliable infrastructure to enable financial institutions, including Royal Bank of Canada, TD Bank Group, CIBC and Desjardins, and mobile operators to securely provision sensitive payment card credentials into any smartphone capable of near field communication.

Today the mobile payments space is primed for growth. According to Gartner, “The total value of transactions using mobile technology is expected to grow from $35 billion in 2012 to $173 billion in 2017, at a compound annual growth rate of 31 percent. This projection includes merchandise purchases, ticketing and bill payments, while it excludes person-to-person payments and airtime top-ups.”[1]

Supporting mobile payments reinforces BlackBerry’s ability to provide unique services that help enterprise customers deploy secure mobile solutions that help promote productivity among their workforce and drive new revenue streams. Working with EnStream demonstrates BlackBerry’s strategy to extend its core enterprise mobility technologies in new and emerging industries.

“BlackBerry has proven through our decades of experience in enterprise mobility that we have the ideal infrastructure and security capabilities to protect users’ data when new capabilities such as mobile payments emerge,” said John Sims, President of Global Enterprise Services, BlackBerry. “Together with EnStream and partners like them around the world, BlackBerry can better reach customers and provide a complete solution for banks with opportunities in the mobile payments space.”

“EnStream, with BlackBerry, is already serving a number of banks and mobile operators, and is becoming a hub for payment credential delivery to smartphones in Canada,” said Almis Ledas, Chief Operating Officer, Enstream LP. “We expect most major Canadian banks and mobile operators to connect through this platform to meet consumer demand for efficient and safe digital transactions.”

In order to provide the platform for EnStream, BlackBerry needed to protect the sensitive data associated with financial transactions and meet the stringent requirements of the payment industry. This included complying with regulations and earning PCI, Visa and MasterCard certification.

“Canada is a leading global region in the adoption of technology and mobile payments, making it a key market for MasterCard innovation,” said Nicolas Dinh, Vice President of Emerging Payments, MasterCard. “Safe and secure digital transactions are the backbone of our network and mobile payment ecosystem, and BlackBerry’s involvement in the payment chain will help build trust in Canada and abroad.”

“Canada is leading the world in mobile payments adoption and Visa’s continued focus on innovation is underpinned by our commitment to security and reliability,” said Derek Colfer, Director of Mobile, Visa. “We support BlackBerry’s efforts to offer a secure mobile payment service that will help facilitate mobile payments.”

Given its requirements for security, the mobile payments space continues to be an area of focus for BlackBerry. In addition to today’s announcement, BlackBerry previously launched BBM Money in Indonesia, which allows BBM customers to transfer funds and conduct other types of financial transactions using BBM.

[1] Gartner, Emerging Technology Analysis: Mobile Payments Create Opportunities for Technology and Service Providers With Banking Expertise, Rajesh Kandaswamy, Dec. 10, 2013 (p. 2).

Source

And thanks to my friend Ken for alerting me to this.

Brad

BlackBerry Elite Founder & Owner of UTB Blogs and UTB Geek. When I'm not talking or writing about BlackBerry, you'll find me using my BlackBerry.

  • razrrob

    Nice post Brad!

    Would be great if the US woke up and embraced NFC technology. Would love to see large retailers, gas stations, and grocery stores, etc make this available for their current BlackBerry, Android, and soon to be Apple enabled devices.

  • bbjoe2011

    If the US used NFC more, my Q10 would be glued to my hand. The idea of using my BlackBerry for EVERYTHING just…makes me happy.

  • Canuckvoip

    Yay!!!!!!!!!! Can’t wait for my bank and my carrier (RBC and Telus) to give me the goods!

  • G-bone

    Thanks, Brad.
    Another great article. Lots of good news today.

    #IchooseBlackBerry10

  • twstd.reality

    Awesome. I’d love BBM money over here (Canada). Currently, I use interac email transfers quite a bit and I think going through BBM would probably be more secure and straight forward. There’s still a long way to go with NFC payments though. I noticed a lot of the merchant terminals don’t even have the technology enabled most of the time.

  • Excellent post Brad, and good news for BB. Being able to pay with a tap would be awesome. Chen is doing amazing things in making use of and monetizing BB’s strengths. I hope the US isn’t far behind Canada in adopting this.

    Awesome!

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