If you are like most people you probably carry a forest of business cards, receipts and family photos in your wallets. While there is nothing wrong with that, digging through this papery forest and finding a currency note to pay for a coffee or buy a ticket can be quite a hassle. If all of us keep our wallets well organized this will not be a problem at all. Unfortunately, most people aren’t all that organized and they will definitely appreciate technology that will make their life easier. If mobile payments are becoming popular, that is because they are convenient. Also they allow you to conduct financial transactions through NFC enabled devices that you can carry in your pocket.
This mode of payment is popular with both merchants and consumers. Gartner estimates that the net value of mobile transactions will grow from 35 billion USD in 2012 to 173 billion USD in 2017. This estimate includes bill payments, ticketing and merchandise purchases but it doesn’t include airtime top-ups and individual-to-individual payments.
As this industry grows, there is greater demand for technology which makes it possible. BlackBerry has been supporting NFC for quite some time. This is a short-range wireless communications technology. When this technology is used in conjunction with some apps in BlackBerry World, users can make payments using their mobile phones. The first mobile payment was made in Canada almost 18 months ago using a BlackBerry.
In addition, BlackBerry is capable of offering the platform on which these transactions can be secured and serviced. This allows BlackBerry to give their customers access to their proven infrastructure to support the growth of the mobile payments industry.
BlackBerry has just entered into a new 3 year contract with EnStream which is a mobile payment system co-owned by the Canadian wireless carriers Rogers, Bell, and TELUS. Thanks to this agreement, EnStream’s mobile operators and customers can now securely enter sensitive payment card details into any smartphone supporting NFC.
This is very important to BlackBerry for several reasons. BlackBerry already has a highly secure infrastructure. Needless to say, the company is interested in leveraging its assets by offering unique services to their customers. The core strength BlackBerry possesses in enterprise security also translates well into mobile payments because such transactions need high security and BlackBerry is capable of offering it. Convenience cannot come at the cost of security. By working with EnStream, BlackBerry is helping businesses deploy highly secure mobile applications that help their workers to become more productive and develop new streams of revenue.
BlackBerry was one of the pioneers in the mobile payment industry. Almost all BlackBerry devices that run OS version 7 or higher support NFC. BlackBerry 7 OS was the first operating system to support ‘Host Card Emulation’ or HCE. The very first deployment of this technology was the Tim Horton mobile payment application for BlackBerry 10. In Indonesia, BlackBerry also offers BBM Money in association with Bank Permata.
Companies are exploring all possible means to connect with and serve their customers better. This makes the mobile payments industry an exciting space.