BlackBerry Eyes BBM as a Way to Send Money

?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.?

"Chen also took some shots at rivals, including Good Technology, and said BlackBerry is planning to give free access to BlackBerry?s latest server software to customers who are running older versions of BlackBerry?s software or who have defected to rivals such as Good."

BlackBerry Eyes BBM as a Way to Send Money | Re/code

Posted via CB10

Originally Posted by SirJes

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BlackBerry Eyes BBM as a Way to Send Money | Re/code

Posted via CB10

You can send money via email so how will this be any better or more convenent?

Originally Posted by Wilsonia Goldens

You can send money via email so how will this be any better or more convenent?

It will be better because it is a source of potential revenue for Blackberry. :)

And by the way, there is no generic concept of "sending money via email". Email does not transfer money. Email might be used by some service as part of the exchange (ie simply as an identifier for a Paypal account or something), but the "email itself" does not send money.

Whereas BBM would presumably have a much more direct involvement in this process in this case.

They were piloting this with at least one bank in Indonesia last year.

It's huge in Africa and Asia; to be able to integrate it with a messenger service is very smart.

Originally Posted by Omnitech

It will be better because it is a source of potential revenue for Blackberry. :)

And by the way, there is no generic concept of "sending money via email". Email does not transfer money

Whereas BBM would presumably have a much more direct involvement in this process in this case.

Hope you are right about a way to increase revenue. e-transfer is email transfer of money.
We matched your question to this answer

What is Interac e-Transfer and what are the associated fees?

The Interac e-Transfer service allows you to securely send or receive money online via email. Here's how it works: the person sending money enters the recipient's email address, the amount they wish to send, and a security question. The recipient receives an email notifying them of the transfer and, once they correctly answer the security question (chosen by the sender), they can deposit the money to any Canadian-dollar bank account held at a Canadian financial institution. Once the recipient has deposited the transfer, the sender will receive an email confirming that the transfer was successfully completed.

Interac e-Transfers cost $1.00 to send. There is no fee to cancel an Interac e-Transfer if you do so within 24 hours of sending. However, after 24 hours there is a $5.00 fee to cancel.

To send an Interac e-Transfer please go to:

Transfers>Interac e-Transfers and enter the required information.

Originally Posted by Wilsonia Goldens

What is Interac e-Transfer and what are the associated fees?

The Interac e-Transfer service allows you to securely send or receive money online via email. Here's how it works: the person sending money enters the recipient's email address, the amount they wish to send, and a security question. The recipient receives an email notifying them of the transfer and, once they correctly answer the security question (chosen by the sender), they can deposit the money to any Canadian-dollar bank account held at a Canadian financial institution. Once the recipient has deposited the transfer, the sender will receive an email confirming that the transfer was successfully completed.

Interac e-Transfers cost $1.00 to send. There is no fee to cancel an Interac e-Transfer if you do so within 24 hours of sending. However, after 24 hours there is a $5.00 fee to cancel.

To send an Interac e-Transfer please go to:

Transfers>Interac e-Transfers and enter the required information.

As I wrote, the email itself is not "transferring the money". The entity that is transferring the money in this case is an organization called Interac. They are simply using email as a transport method to facilitate their service. If that were not the case, anyone could fraudulently transfer money from one account to another that they do not own, just by sending a faked email. Interac could just as easily use Fax, Telegram, Telephone, Telex, etc etc.

Whereas what SirJes posted about is a service that is directly embedded in BBM, that requires BBM to work. In other words, BlackBerry Ltd is operating in the same capacity (probably via a banking partner) in the same role that Interac is acting in in the example you quoted. The difference is that this transaction MUST be done over BBM, and as such it means it becomes a unique draw for the platform, and a revenue generator. (Surely Blackberry is not going to provide the development, infrastructure and management of such a system for free - they will get revenue for this.)

Finally BlackBerry Money is brought up again after almost a year lol

Posted via CB10

So if I'm on a business bbm channel, see something they are offering, I would be able to buy via some kind of bbm gesture, resulting in money leaving my account and a package appearing in my mailbox?!?
@:^]
I'm liking sound of that.

Flicked out via Zed10