BlackBerry eyes BBM as a way to send money

Ina Fried
Tuesday, 25 Feb 2014 | 10:14 AM ET
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BlackBerry is exploring whether it might be able to expand use of its BBM service as a way to transfer money in emerging markets where the instant messaging service is popular.

"We're meeting with partners and we are exploring the market," BlackBerry enterprise unit president John Sims told Re/code in an interview on Tuesday. "Money movement is an important thing."

While plenty of companies are looking at NFC and other technologies to manage payments in mature markets, Sims says he sees potential in developing markets where BBM is popular, such as Indonesia and parts of Latin America. The company has made steps in that direction before. Last year, it began testing a BBM Money service in Indonesia in conjunction with the local Bank Permata.

Re/code has the whole story here.

By Ina Fried, Re/code.net.

CNBC's parent NBC Universal is an investor in Re/code's parent Revere Digital, and the companies have a content-sharing arrangement.

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