Video: BlackBerry shows how BBM Money works

Ian Hardy

February 26, 2013 2:07 pm

bbmmoney
BlackBerry has over 79 million subscribers and 60 million use the BlackBerry Messenger (BBM) service. Last December BlackBerry announced a pilot project called BBM Money – a service that will first kick off in Indonesia and gives users the ability to send money via BBM to other BBM users in their contact list. At the time Hastings Singh, BlackBerry’s Managing Director of South Asia operations, stated “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.”

According to a report in Bloomeberg, BlackBerry has officially started testing BBM Money with PT Bank Permata (BNLI) and Monitise in Indonesia – where the company has the most market share. PT Bank has about 2 million customers and they’re estimating BBM to have “a few hundred thousand” active users within 12 months. To use BBM Money one would need to download the app and have a device running BlackBerry OS 5, 6 or 7, currently BB10 is not compatible. Sending money to a PT Bank Permata customer is free, but if your BM contacts banks at another financial institution it’ll cost 5,000 rupiah (52 cents).

No indication yet from BlackBerry if BBM Money will come to North America. A detailed video has been uploaded to YouTube that shows BBM Money in action.

Source: Bloomberg
Via: N4BB

  • ASH

    Neat!

    • Blackberry Olde Numbers

      Re: “BlackBerry has over 79 million subscribers and 60 million use the BlackBerry Messenger (BBM) service”

      Those numbers are from Q3 2012, they are Blackberry numbers; are not audited and “conveniently” have not been updated in three quarters.

      Is evident that those numbers are dropping every week BB is not dropping the $500 koodo pric of the Z10.

    • hoo dat

      Give it a rest. Those numbers have been audited and certified, they had to be as they were presented to the shareholders at the end of the last quarter. If you have evidence BlackBerry has been deliberately misleading shareholders by presenting erroneous numbers then present it to the SEC and let us know how it goes will ya?

    • hoo dat

      Another thing, you obviously have no idea how most large companies run their financial year, do you? Yes those numbers were presented in 3Q but seeing as BlackBerry is currently in its 4Q that makes them as current as you’ll ever see from a publicly traded company. Call your broker, sell everything. Trust me, you’ll be better off.

    • RIP

      this will be dead like all their other services

  • Mike

    I. Understood. Nothing. But it looks neat.

  • lukeiphone

    You can just use Paypal app and send money to pretty much anyone. More secure and anyone can withraw to their attached bank account. Paypal app is cross platform also.

    • OgtheDim

      And the % that paypal takes is way more then it needs to be.

    • LeafsFan77

      On your thought, If PayPal is the universal payment service and Skype is the universal video chat, why did Apple create FaceTime? Companies innovate new services to generate money. This is one of them.

  • Rich

    Looks like Blackberry is going “balls deep” as my friend likes to put things.

  • EH

    There are lots of Domestic Workers in South East Asia, they have to send their money back somehow. Indonesia has many domestic workers, not surprised to see these kind of services.

  • skazzberry 2.0

    Sounds like it will be just about as successful as BBM music was!

  • Canuckdian

    Why do most Asian review videos need stock 80′s rock music blasting in the background?!?

  • Hanscero

    Just another wait and see concept, this little idea may drive other platforms users to them just because a cheaper money transfer, secure and social at the same time. Another method of payment for client, seeing it from a business owner perspective if you know what I mean.

  • KoalaMeatPie

    Yes, but can I use this with BitCoins?