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Vancouver's nTrust Teams Up with Estimote to Create Canada’s First Contactless, Proximity-Based Mobile Payment Solution
Tuesday, May 13, 2014Company Profile | Follow Company
Vancouver, BC, May 13, 2014--(T-Net)--nTrust, developers of an instant mobile payment and money transfer platform with offices in Vancouver, BC, recently announced a partnership with Estimote, a hardware and software platform that uses Bluetooth Smart technology to deliver context and micro-location data to smartphones.
The partnership has created the "first fully integrated contactless, proximity based mobile payment solution in the Canadian marketplace".
Integrating with nTrust's mobile platform, Estimote Beacons use Bluetooth Smart™ technology to transmit context and micro-location data to smartphones within range - allowing nTrust members the ability to locate merchants using the nTrust app. For iPhone* users, the nTrust solution uses iBeacon technology to determine the iOS device's proximity to the Estimote Beacons located at the merchant.
Once a merchant is located, the nTrust app allows nTrust members to make wireless purchases using a secure connection to the nTrust servers, via Wi-Fi or Cellular**. Merchants simply send a request to the member for the amount owed, and the member pays for the item from the funds in their nTrust account in real time - eliminating the need for physical credit cards on the consumer's end and card readers on the merchant side.
“In an age where instantaneity is key, we wanted to elevate consumer experience by creating a seamless shopping experience for our members,” says Rod Hsu, CXO at nTrust. “Using the Estimote-powered nTrust mobile app, members will be able to locate merchants, walk-up to them, and complete a transaction - all through a few clicks on their phone and within seconds.”
As an nTrust merchant, vendors are set-up with a complimentary Estimote Beacon and enjoy low processing fees of 1%. Additionally, through the integration, merchants will be able to push special offers to nearby members, providing further value to the consumer and helping merchants differentiate in an increasingly cluttered space.
“We've set out to reshape the way the mobile and physical worlds interact,” says Tanuj Parikh, Senior Director of Business Operations at Estimote. “Our platform allows nTrust to actively evolve the merchant-consumer transaction process - providing a streamlined system with immense value for both consumer and merchant.”
* iPhone users with devices that support Bluetooth 4.0 - iPhone 5s, iPhone 5c, iPhone 5, and iPhone 4s.
**Financial data or transaction details are not exchanged between iPhone and the Estimote Beacon using iBeacon technology.
About nTrust
nTrust is a rapidly-growing, dynamic start-up online peer-to-peer international transaction service that makes sending money between individuals anywhere in the world, in various currencies and in any amount as simple as sending an email.