BlackBerry (BBRY) BBM Money Gets More Powerful

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There are many reasons to believe that BlackBerry Limited (BBRY) could achieve success in the mobile payment category, including the fact that the company is well known the world over for providing secure solutions. And when it comes to mobile payments, there is nothing more important than security.

To give BlackBerry the best chance of long-term success as it competes against the many companies that are picking up the pace — including Apple (AAPL) — it must continue to roll out new features that will improve its capabilities.

Two Additions by BBRYBlackBerry Storm Smartphone in hand 630

BlackBerry has announced two new payment capabilities within the BBM Money service.

First off, let’s look at the expansion of BBM Money into Indonesia. This may not sound like a big deal, but it shows that the company is more than willing to push its service into markets outside of North America, which may improve its chances of grabbing onto meaningful market share.

Matthew Talbot, Senior Vice President of Emerging Solutions at BlackBerry, explained why the company is so excited about Indonesia:

“Indonesia presents a perfect marketplace for BBM Money. First, it’s no secret that we have a lot of customers there. It is the biggest BBM market globally. A massive number of Indonesians use BBM today, and the monthly active user count is growing by 150% annually.”

Hot growth like that makes the Indonesia expansion a no-brainer for BBRY.

Integration with TransferTo

The second addition to BBM Money is its integration with TransferTo, “an international airtime remittance provider.”

This is pretty simple to understand: TransferTo will give people the ability to “gift” airtime minutes to other BBM contacts. Talbot added that the service is compatible with “350 mobile operators” spanning “over 100 countries.”

Many people were writing BlackBerry off as dead no more than a year ago. Now, these same people are eating crow, realizing that the company is not slowing down.

As of this writing, Chris Bibey did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2014/09/blackberry-bbry-bbm-money/.

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