BBM Money enables Blackberry's BBM app to Deliver Bank-Grade Mobile Payment Services

BlackBerry BBM App Image Credit: BlackBerry BBM

Users of BBM, BlackBerry's app that provides private social networking service on mobile devices, will now have access to enhanced mobile payment features via the app. Blackberry, a global leader in mobile communications, announced this week a number of new enhancements on its BBM app, which is now available on Android®, BlackBerry, iOS or Windows Phone® operating platforms.

The announcement was made for users in Indonesia, a country of more than 250 million people, enabling mobile users in the country to leverage on the app's BBM Money feature to conduct mobile payments and a host of other banking and financial transactions securely using their mobile device. According to Blackberry, Indonesia makes an attractive target for the role out of mobile money services given that its debit card penetration is only 11% and it records the second fastest growth rate in the world in e-commerce after China.

BBM Money, which was developed by Monitise, a provider of mobile banking and payment services together with Pertama Bank of Indonesia, which will manage the service, was previously offered as a mobile wallet service exclusive for BlackBerry users. With the present enhancement, BBM Money will be available across Android and iOS platforms, regardless of the customer's bank and whether the customer has a bank account. The new BBM Money enables users to make payments in stores and via online and offers bank-grade security and privacy protection.

The new BBM Money service will be available to Indonesian customers beginning next year. 

"By combining our DNA around security, and the real-time collaboration and privacy attributes of BBM, we are uniquely placed in the growing mobile payments space.  These new mobile payments partnerships demonstrate how we have effectively evolved BBM from the best real-time chat experience to a true social engagement and e-commerce platform. Whether it's sending pictures and files to groups or contacts; sharing their location or sending money or airtime - all from within the BBM app - our users' real-time engagement experience will continue to get richer."

-        John Sims, President Global Enterprise Services at BlackBerry

"Many of these brands and retailers have a huge following on BBM. When you realize the amount of time that is spent using BBM to engage with friends, family and now brands, linking payments was a logical extension." 

-           Matthew Talbot, SVP for Emerging Solutions, BlackBerry

"Simplifying the payment and checkout process while maintaining bank grade security standards is vital for both consumers and retailers. We have always believed in the power of partnerships and by combining the strengths of BlackBerry and PermataBank with our 10 years of experience in mobile financial services we have developed a service that puts Indonesia at the forefront of mobile payments and commerce innovations."

-           Darren Sugden, EVP, Monitise Asia Pacific

Executive Editor of The Fast Mode | 5G | IoT/M2M | Telecom Strategy | Mobile Data Innovations 

Tara Neal covers stories on strategies and initiatives in the Digital Telco space, and anchors the 5G and IoT/M2M verticals on the publication. Tara holds a First Class Honours in BSc Accounting and Finance from The London School of Economics, UK and is a CFA charterholder from the CFA Institute, United States. Tara has over 20 years experience in technology and business strategy.

Follow her on Twitter @taraneal11, LinkedIn @taraneal11, Facebook or email her at tara.neal@thefastmode.com.

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