BlackBerry Signs New Three-Year Agreement with EnStream to Provide Mobile Payments Management Services

by Istvan Fekete on June 13, 2014

BlackBerry yesterday announced a new three-year agreement with the mobile payments joint venture owned by the incumbents, EnStream LP, to provide mobile payments management services.

Multiple financial players in the country say Canadians are ready for mobile payments, and the new agreement aims to lay the groundwork for a wallet-free life.

BlackBerry’s secure platform has proven to provide a reliable infrastructure, the announcement notes, and EnStream will leverage this infrastructure to enable financial institutions such as RBC, TD Bank, CIBC, and Desjardins, and mobile operators to securely provision sensitive payment card credentials to any NFC-capable smartphone.

“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.”

Not so long ago, BlackBerry’s Jack Chen talked about the company’s focus on services, and this agreement underscores BlackBerry’s ability to provide unique services to enterprise customers, helping them to deploy mobile solutions that help promote productivity and drive new revenue streams.

Mobile payments is an emerging industry, and financial players want their share. Gartner predicts that the total value of transactions using mobile technology will hit the $173 billion mark by 2017, compared to $31 billion recorded in 2012.

BlackBerry has met the stringent requirements of the payments industry, as its technology protects the sensitive data associated with financial transactions, and has earned PCI, Visa, and MasterCard certification.

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Written by: Istvan Fekete. Follow by: RSS, Twitter, Facebook, or YouTube.

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