Connect with us

Top Stories



Indonesian P2P payments service from BlackBerry, PermataBank and Monitise launches cross-platform

BlackBerry Limited (NASDAQ: BBRY; TSX: BB), PermataBank and Monitise (LSE: MONI) announced the forthcoming availability of its BBM Money service for smartphones running on Android, iOS and BlackBerry platforms. The launch is among a series of initiatives from BlackBerry which are set to enhance mobile payment capabilities for users of BBM.

BBM Money will be available for Indonesia customers using BBM on Android, BlackBerry and iPhone, from early 2015. Service enhancements will include the ability for BBM Money users to make commerce payments in a highly convenient and secure way.

BBM has been widely reported to be one of the most popular messaging applications in Indonesia. With the monthly active user count having grown by 150% over the past 12 months, and with Indonesia having only 11% debit card penetration[1] and the 2nd fastest rate of e-commerce growth after China[2], it is an ideal target market for BBM Money.

Developed by Monitise and issued and managed by PermataBank, BBM Money was initially made available in early 2013 to BlackBerry users, offering basic mobile wallet services. The new BBM Money will also be made available to Android and iOS smartphone users, regardless of who they bank with or whether they have a bank account. The new BBM Money will enable payments in participating retail stores and online, while continuing to benefit from bank-grade security measures including passcodes and encryption and leveraging BlackBerry’s expertise and legacy in security and privacy.

Peter Radcliffe, President EMEA & AP at Monitise, commented: “Interoperability, collaboration and scalability are key to success in Mobile Money – and this initiative is a great example of that. BBM Money is proof of how businesses can work together to give consumers a service which is genuinely more convenient than what they had before.”

Editorial & Advertiser disclosure
Our website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate


Newsletters with Secrets & Analysis. Subscribe Now