Discuss: RIM To Enter Peer-To-Peer Money Transfer Market With BBM Money
RIM's proprietary messaging platform BlackBerry Messenger (BBM), has been on of the key factors for consumers of its BlackBerry smartphones. The company has done a good job enhancing its messaging service and has always been one step ahead of its competitors that offer similar messaging services.
RIM plans to launch a new service called BBM Money. The service will allow for secure transfers of money from one BlackBerry phone to another. The service opens up the door for secure e-commerce between BlackBerry users and their banks. The company plans on releasing the service in Indonesia first as it remains one its strongest markets. RIM's Hastings Singh managing director of RIM's South Asia operations, stated that the company recognizes that Indonesia is an important market, and that " BBM Money which will be launched in Indonesia - first in the world - shortly. It is a peer-to-peer transfer service that anyone with a Blackberry phone can use to transfer funds to someone else with a Blackberry phone."
While little is known about the service, it was foretold by RIM's CEO Thorsten Heins during a visit to Jakarta back in October. The CEO told us to “Think about transacting money. This is one element in which you could have a huge BBM population in Indonesia transferring money from one partner to another,” and that Indonesia is "innovation ground for BBM"
While the transferring of monetary items via a messaging platform would normally be an obvious security issue, BBM's native security features will make transactions safe. Security is another area in which RIM has mastered and has implemented it within all of their devices.
BBM Money is something that will once again change the way we interact with smartphones. Having the ability to make money transactions using a messaging application will open the door for many things.