BlackBerry to launch peer-to-peer money transfer service in Indonesia called BBM Money

BBM Money
By Bla1ze on 4 Dec 2012 08:00 am EST

BlackBerry Messenger has and continues to play a key role for RIM when it comes to the consumer market. Over the years, RIM has added additional offerings to BBM to keep it fresh and now according to the BBC and Hastings Singh, the managing director of RIM's South Asia operations in Indonesia, they'll be launching a new service called BBM Money that will allow peer-to-peer transfer of funds to someone else also using a BlackBerry.

"Indonesia is very important for RIM, It's a huge market for us - and it is a market that has grown significantly over the last few years. But we definitely can't be complacent. So we are offering a new innovation - 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."

Given the fact that BlackBerry maintains over 50% marketshare in Indonesia, it certainly won't be difficult to find someone to transfer funds with. Upon transfer, the funds can then be withdrawn ATM's and at financial institutions which, also highlights RIM's security reliability. Not a whole lot else is known about the service right now but we're sure to hear more about it in the near future and hopefully, expansion of the service outside of Indonesia.

Source: BBC

Reader comments

BlackBerry to launch peer-to-peer money transfer service in Indonesia called BBM Money


A while ago I assume. Haven't seen them in KW but was in Ottawa this past weekend and they were there.

i believe RIM has been trying to get this service in the US and other areas but the carriers want to be the ones handling the transactions, such as the ISIS service offered by the US carriers. RIM of course wants the transaction to take place through the device and not the SIM card. It's all about those micro-transaction fees, they add up over time. But this is just another example of how RIM is leveraging the NOC to bring in additional revenue.

BAM!! I was just talking about this the other day to someone (iPhone user) and he said it would be impossible in the next 5 years or with the current devices offered. Then again, he didn't believe me that one could walk into a Tim Hortons and pay with NFC, so really I was just talking to someone who's not informed (has nothing to do with his platform of choice)

I'm really curious how this will work and how reliable this will be. If they can make this happen worldwide it would sure be a plus. Can't wait!

The problem is not finding someone to transfer funds with. The problem is in finding a reason to use BBM Money itself. PayPal is pretty much mostly unheard of in casual financial transactions in Indonesia, so I think it'd be mostly just a way to bypass dedicated bank apps, the "money" will simply be put into the user's bank of choice, and still requires "confirmation" of some sort.

This is a very interesting feature. I would love to see it available here in North America. Would be easy to transfer funds between family members across the country.

~I am BlackBerry by choice~

I LOVE THIS Feature, and I hope they open an API for developers like myself. As soon as they do, I am going to make an app, that will allow you to split items of food/drink at a restaurant by x amount of people and then each person in your party will have their own separate bill through the app. So, all that needs to happen is one person pay the whole bill and everyone approves money transfer for their bill amounts to the guy who paid it.

It will be genius. What do you guys think? I am working on a paypal version of it now, but think BBM would be better.

genius... i'd pay 99cents for that for sure. don't be greedy and ask for a % of the tip or transaction though :D

BBM money sounds cool. world-wide release following indonesia please.

Bold 9900 - Playbook 32GB - Lumia 800