Boston, MA 06/13/2014 (wallstreetpr) – BlackBerry Ltd (NASDAQ:BBRY) signed three year’s contract with EnStream LP primarily to provide a secure platform for transaction between customer and banks. EnStream LP is a mobile payment joint venture of Canadian wireless carriers Bell, Rogers and TELUS.
As per the agreement, EnStream will utilize the BlackBerry’s infrastructure to allow financial institutions and mobile operators to provide secure payment platform for smartphones.
A growing segment
The smartphone market continues to increase with growing demand worldwide. Mobile payment is now speeding up the growth path with increasing use of smartphones over online purchase, bill payments, ticketing, and fund transfer. Advent of new mobile technology and secure platform for the payment transaction make the customer more comfortable for payment as and when they need.
Accordingly, Gartner expects the payment market using mobile technology will continue grow at a CAGR of 31% for the period five years to reach $173 billion by 2017.
Deal advantage
BlackBerry Ltd (NASDAQ:BBRY) already a robust infrastructure for enterprise mobility solution where it provides complete secure environment to work with the enterprise data. On the other side, EnStream is currently serving payment services through smartphone in Canada while working with a number of banks and mobile operators.
So, the addition of new services of BlackBerry in partnering with EnStream will give a complete solution of safe transaction for the banks to increase their opportunities in mobile payment space.
BlackBerry continues to focus on mobile payment space. The Company previously launched BBM Money in Indonesia that allows the customers for financial transaction including money transfer.
Now, with EnStream, BlackBerry will improve its ability in mobile payments that help its enterprise customers with secure mobile solutions. It also drives the Company’s performance through a new revenue streams.
In addition, BlackBerry Ltd (NASDAQ:BBRY) extends its enterprise mobility services to new and emerging industries while working with EnStream.
