nTrust



nTrust

April 29, 2014 09:01 ET

nTrust teams up with Estimote to Create Canada's First Contactless, Proximity-Based Mobile Payment Solution

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 29, 2014) - nTrust, the instant mobile payment and money transfer platform, today announces their 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 regulated and trusted global peer-to-peer money transfer platform helping people free their money. Using Cloud Money, nTrust members can move money around the globe as fast and seamlessly as sending a text, simply by uploading funds into their personal Cloud directly from their bank accounts, credit or debit cards, or other funding methods. Once a member's Cloud is loaded, funds can be instantly exchanged to other currencies, used to pay bills or merchants, loaded to an nTrust Cloud Money prepaid MasterCard® or conveniently sent to other members around the world. nTrust's proprietary technology uses the highest encryption standards and is "PCI-DSS Level 1" certified - the top global standard for operational and technical security designed by Visa, MasterCard® and American Express.

About Estimote

Estimote, Inc. builds hardware and software solutions using Bluetooth Smart technology. Its wireless beacon sensors communicate with applications on a consumer's mobile device - via Estimote's mobile and cloud software - to trigger contextually relevant actions. These include everything from personalized micro-location notifications to indoor wayfinding to in-store analytics. Nearly 20,000 developers worldwide are building apps on top of the Estimote platform in industries as diverse as retail, healthcare, hospitality, tourism, sports and live events. To learn more visit http://www.estimote.com.

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