BlackBerry announced a 3-year deal with EnStream, a mobile payments company, to provide secure platform to support transaction services between banks and consumers.
EnStream is a three-way joint venture of Canadian wireless carriers Bell, Rogers and TELUS.
EnStream will leverage BlackBerry infrastructure to enable financial institutions, including Royal Bank of Canada, TD Bank Group, CIBC and Desjardins, and mobile operators to provision payment card credentials into any smartphone capable of near field communication.
Gartner says the value of transactions using mobile technology will grow to $173 billion in 2017 from $35 billion in 2012, at a compound annual growth rate of 31 percent. This includes merchandise purchases, ticketing and bill payments, and excludes person-to-person payments and airtime top-ups.
Almis Ledas, chief operating officer, Enstream, said: “We expect most major Canadian banks and mobile operators to connect through this platform to meet consumer demand for efficient and safe digital transactions.”
BlackBerry addresses requirements of the payment industry including PCI, Visa and MasterCard certification.
Earlier, BlackBerry launched BBM Money in Indonesia, which allows BBM customers to transfer funds and conduct other types of financial transactions using BBM.