Under the terms of the partnership, nTrust and Estimote are set to provide a fully integrated contactless, proximity-based mobile payment solution in the Canadian marketplace.
Integrating with nTrusts mobile platform, Estimote Beacons use Bluetooth Smart technology to transmit context and micro-location data to smartphones within range, thus enabling nTrust members to locate merchants using the nTrust app. For iPhone users, the nTrust solution uses iBeacon technology to determine the iOS devices 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 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.
nTrust is a global peer-to-peer money transfer platform. nTrust users can upload funds into their personal Vault directly from their bank accounts, credit or debit cards or other funding methods depending on jurisdiction. Once a Vault is loaded, nTrust users can exchange funds to other currencies, pay bills or online merchants, load an nTrust prepaid MasterCard or send money to other nTrust users around the world.
Estimote builds hardware and software solutions using Bluetooth Smart technology. Its wireless beacon sensors communicate with applications on a consumers mobile device, via Estimotes mobile and cloud software, to trigger contextually relevant actions. 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.
In recent news, nTrust has entered a partnership with Philippine-based online services provider DragonPay, to provide an enhanced method for GCash account holders to upload money into their nTrust Cloud.
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