Scotiabank today expanded its mobile payment service – My Mobile Wallet. By connecting to EnStream, Canada's mobile payments hub, the Bank added Bell, TELUS, Virgin and Koodo subscribers to the base of Rogers subscribers already served with their customer-focused mobile wallet.
Scotiabank selected EnStream's secure and standardized mobile payment services because EnStream enables credit, debit and pre-paid cards offered by all participating financial institutions, across all wireless carriers in Canada.
Only Canada has a central mobile credential management hub connecting banks, through a single point of contact, to mobile subscribers. EnStream gives banks an open alternative to proprietary solutions offered by international technology brands, an alternative that does not exist in many other markets. It also gives local, non-financial credential issuers such as transit authorities and governments, a secure way to take advantage of the opportunities afforded by mobile credentials.
By connecting to EnStream, Scotiabank becomes the fourth of Canada's six largest financial institutions to use the hub for connectivity to mobile subscribers. The EnStream platform allows banks to maintain their direct relationship with their customers through their own banking or payment applications.
Pay by tapping your phone is already supported by Bell, Rogers, TELUS, MTS, SaskTel, Virgin and Koodo, with other mobile network operators being added soon. Smartphone penetration in Canada is now over 80%, and mobile payments are now supported by over eight million smartphones in Canada. The number of NFC SIM cards in Canada, also required for SIM based mobile payments, has doubled to over 4 million during the first six months of the year and continues to exhibit strong growth, showing strong mobile network operator commitment to mobile payments across Canada.
Entrust Press Release