Rogers Communications (TSX:RCI.B) today announced that after running pilot tests of mobile payment solutions, its near field communications enabled devices will be secured with digital security technology from Amsterdam-based firm Gemalto.
David Robinson, VP, Emerging Business at Rogers Communications said security was a top concern: “It’s essential that consumers have peace of mind when it comes to storing payment cards on their mobile device and using it to make credit and debit transactions on the go,” he said, adding: “Working with Gemalto allows us to protect the consumer’s information by leveraging the SIM card, assuring a secure and seamless experience for mobile payments.”
Rogers says the services its expects to deliver to banks will comply with EMV, (an acronym for Europay, MasterCard and Visa) which has become the de-facto global standard for inter-operation of integrated circuit cards. The company says its software application and Gemalto’s UpTeq NFC platform have both successfully passed MasterCard and Visa’s highest security requirements.
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Rogers says its NFC rollout will be aided by the fact that Canada is already a leader in global payments technology. Tens of thousands of Canadian retailers are already equipped with contactless point-of-sale terminals that capable of supporting NFC-enabled devices, it says.
London-based research firm Infiniti Research says the global market for near field communication will boom at a compound annual growth rate of 135.63% between 2011 and 2015. The report points out that just while just 5% of total mobile phones were NFC-enabled last year, the number will will rise to approximately 46% by 2016.
Gemalto, which has more than 10,000 employees in 74 offices worldwide, posted 2011 annual revenues of €2 billion.
Shares of Rogers Communications on the TSX closed today down .5% to $40.61.