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RIM gains approval from Visa for NFC payments

News by Andrew Kameka on Wednesday January 16, 2013.

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Research in Motion has gained an important endorsement from Visa. The BlackBerry smartphone manufacturer today announced that banking and credit processor Visa has approved RIM's Secure Element Manager for NFC. The SEM was developed in order to enable mobile payments using Near Field Communications, a technology that can trigger financial transactions through close-range communication between phones and sales terminals. With Visa onboard, RIM can ensure potential partners that its payment solution will be secure and work with one of the largest payment processors in the world.

Several companies have introduced mobile payment solutions in recent years, but RIM is not out to compete directly with a consumer product. The SEM is a backend solution that carriers can use to offer their own branded payment options using specially designed SIM cards in BlackBerry phones. Canadian carriers Bell, Rogers, and TELUS are the first to implement SEM with their EnStream payment initiative. RIM may have a tougher time employing its solution in the U.S. because AT&T, Verizon, and T-Mobile have already embraced ISIS mobile payments, a venture which RIM has also declared it will support.

source: RIM

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Andrew Kameka
Andrew is based in Miami, Florida.

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