RIM Receives Approval from Visa for Mobile Payment Solution

RIM has been one of the companies on the forefront of bringing NFC (Near Field Communication) technology to mobile devices. BlackBerry users with certain model devices including the Bold 9900 and other BlackBerry devices running OS 7 and 7.1 have NFC built-in to the phone. Upcoming BlackBerry 10 devices will have NFC capabilities as well, and this is great news for RIM and BlackBerry users looking to use their device to make mobile payments in the future through Visa. Visa has approved RIM for a mobile payment solution using NFC on BlackBerry devices.

The press release is below with details.

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.

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