Visa today approved a backend solution developed by Research in Motion that enables secure Near Field Communication mobile payments.
RIM stock closed at $11.79 last Thursday. The recent gains take RIM stock above $15 for the first time since last February.
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EnStream, a joint venture between RIM, service providers Rogers, Bell and Telus and the Canadian Imperial Bank of Commerce, recently launch a mobile device ‘tap-an-go’ program that allows BlackBerry users to securely pay for products using their smart phones.
Despite having been in use in Asia and Europe for nearly a decade now, mobile payment has yet to catch up in Canada. Among the key hurdles are a lack of NFC-enabled devices and consumer confidence in the technology.
Recognition from a leading credit card company such as Visa could help a long way in convincing more consumers that NFC-based mobile payment is secure.