BBM Money enables users to create and access a mobile money account from their BlackBerry phone and make real-time payments to their BBM contacts who are also signed up to the service. They can also buy mobile airtime credit and transfer money to bank accounts.
Developed by PT AGIT Monitise Indonesia (AGIT Monitise Indonesia), the joint venture between Monitise Asia Pacific and Astra Graphia Information Technology (AGIT), part of Astra International Group, and issued and managed by PermataBank, BBM Money is making its commercial pilot debut in Indonesia, where customers can load cash into the service from an Indonesian bank account. PermataBank will issue BBM Money mobile money accounts and process financial transactions. The service is protected by bank-grade security measures, including a passcode, encryption, monitoring, and limits as required by PermataBank under Bank Indonesia regulations.
“This initiative is a response to growing customers and society needs of easy and convenient banking services by using their smartphone,” said David Fletcher, president director of PermataBank. “This is in line with our vision to be the pioneer in delivering innovative financial solutions, and also reflects our support to Bank Indonesia’s concept of a cashless society in Indonesia."
Through a simple registration process within the application, BBM customers can create a BBM Money account with PermataBank and then start loading cash into the account through any of the 70,000 ATMs in Indonesia. After visiting a designated location to perform a one-time identity check, customers can then make secure payments to their BBM contacts, and transfer money to other bank accounts using the app. Customers can also pay for mobile airtime or prepaid SIM cards for their family and friends. In addition, customers who actively conduct business through BBM can make payments immediately and securely. There is a vibrant trade taking place among groups within BBM in Indonesia.
“Monitise is constantly working with its partners to make money totally mobile around the world for everyone,” said Alastair Lukies, CEO of Monitise Group. “Our focus in Indonesia, as it is in Asia Pacific and around the world, is centred on acting as an enabler at the heart of the growing Mobile Money ecosystem, helping financial institutions and other service providers deliver increasingly innovative and secure services to their customers.”
There’s more information about BBM Money here.