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Press Release: RIM Receives Approval from Visa for Mobile Payment Solution

NFC Payment
By Adam Zeis on 16 Jan 2013 08:34 am EST
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Press Release

WATERLOO, ONTARIO--(Marketwire - January 16, 2013) - Research In Motion (RIM) (NASDAQ: RIMM)(TSX: RIM) today announced that its Secure Element Manager (SEM) solution for NFC (Near Field Communication) mobile payments has been approved by Visa. RIM's SEM is the backend solution for carriers that can securely manage credentials on SIM (subscriber identity module) cards installed in all types of NFC-capable mobile devices.

"The approval from Visa of RIM's SEM solution is an important step in that it will enable carriers to support Visa issuing banks and financial institutions," said Frank Maduri, Senior Director, NFC Services and TSM Product Management at RIM. "We now offer carriers a robust solution with around-the-clock global support that works on any NFC-capable device, and meets the stringent technology and usability guidelines for Visa."

"RIM's success in gaining Visa's formal approval as secure element manager is a crucial step in expanding RIM's role as a key security partner for mobile payment solutions around the globe," said Andy Castonguay, Principal Analyst, at Informa Telecoms & Media. "RIM's secure network operations center provides a unique combination of global geographic reach, and has established trusted relationships with hundreds of carriers around the world with an unparalleled reputation for security, which sets RIM apart as an SEM partner in the growing mobile payments space."

Today's announcement from RIM builds on the recent deployment of mobile payments in Canada by EnStream, a joint venture of Bell, Rogers and TELUS, which uses RIM's SEM solution.

 

Reader comments

Press Release: RIM Receives Approval from Visa for Mobile Payment Solution

47 Comments

hey Adam,,, you might wanna blur out your license,,, i can see enough to know i've probably shanked a couple golf balls into your back yard,,, ;-) ,,, if you wanna ever grab a beverage or need a co-pilot for the launches i'm literally your neighbor & just minutes away & have aaalot of time on my hands these days,,, i woulda pm'd ya but don't know your forum id...

"THE GUY YOUR MOTHER WARNED YOU ABOUT"

And Adam may have inadvertantly given away all his private info with his driver's license.

Someone else may charge less to get the contract. Things change, obviously. If it was exclusive, then it would be a slam dunk huge revenue stream.

Once they enter into an agreement I suppose they can. All this means is that RIM's mobile payment platform has been certified by Visa to allow mobile payments via NFC.

This is why RIM is the best.. not windows, not apple or samsungoogle, just rim. patent and lock it down boys and girls. RIM is back. :)

Oh yes I do. Can you say licensing and access fees. Another source of revenue for RIM. And if MS or Google aregoing to pull their little stunts, like not support BB (Skpye, Google services), guess who does won't be able to play with NFC. Nice move RIM. Oh and their stock is up again.

RIM is backing and kicking a$$.

No. It means little. Visa approved the tech. Means nothing in practical terms, from the user perspective. Approving does not mean actually using it. It doesn't mean you can soon make a payment with your BB phone instead of the Visa card.

You need to re-think your logic. The only reason for all this is so that you can make payments using your phone. Even Tim Hortons has already approved this. If I can already do this with my bank card why wouldn't I be able to do this with a secure phone?

"This is a big as when Disney endorsed blueray instead of hddvd."

...or when the porn industry endorsed VHS instead of Beta...

Not the same thing. In Disney's case, it meant it will release content exclusively on blueray. This is not the case with this announcement. Here, the only thing Visa did was say "Okay, the tech is good enough". It doesn't mean it is exclusive tech for Visa. Visa can approve/certify competing tech.

Now we just need drivers licenses (and passports) on our Blackberrys, and it is just me in my board shorts and my BB10!

Would you want a cop taking your BB back to his cruiser? Don't tell me they wouldn't need to for some reason cuz you know they would *want* to.

Easy solution. Have a physical card license too, and just always leave it in the car with your registration, which the cop will also be asking for. The BB will just double as another government issued ID equivalent.

It's fa$$ot power tripping bouncers I'd worry about... "I'M THE MAN NOW, AND CONTROL YOUR FATE, BUT WHEN I GO HOME I'LL GET TO STOOP OVER, FEED THE CAT, AND BE IN CHARGE OF ABSOLUTELY NOTHING."

The word must be out RIM stocks up over 5% in 18 minutes trading, just another day of double digit gains for RIM, oh humm

I thought this news already came out last month?

Charging between 5 and 15 cents per transaction.. wow. hopefully that won't get passed along to the customer..

How does this work? Does the info go through RIM's Network or is the processing done using a machine that runs QNX and has the SEM code in it? I understand that some of the information is stored on the SIM card.
Anyone know?

Very interesting, but until I see an implementation date, I'm not getting excited. I could really use this app...I'm already a Visa customer...

Visa customers will get this automatically in the background when they buy BB10 phones. And, eventually Playbook will get it with BB10 update.

I'm no techie but looks to me like RIM leveraging the NOC as a payment processing network, for not only BB phones, but for any and all phones via carrier access. All the talk about NOC / BIS fees going away seems to be solved by this, at least partially, if there is widespread adoption?

This is Huge. I Things won't have NFC approved with BB10 security. This security will eventually become very, very important. And also, Android security is rated terrible!
Stock "experts" won't understand that. Fortunately stockholders & Visa do. GO RIMM!

So that means BlackBerry Wallet is going to have a use after all? It would be nice if they announced something like that out of the blue.

I was trying to buy app from Blackberry world but I'm getting this error.
this payment cannot be processed because no payment source is available. please verify your paypal account and try again (AW589009c).
My paypal is working fine with ebay, apple,android,etc..Can some one help me on this please?