Written by Sonia Wynter –
With just fifteen days before it releases fourth quarter results, the Canadian smartphone maker BlackBerry announced Wednesday that one million BlackBerry 10 phones had been purchased by an undisclosed buyer, sending their stocks soaring and speculation flying as to who the mystery “established partner” as they described it is.
With all the speculation of it being a purchase by either Verizon or AT&T for their upcoming BlackBerry Z10 launches – which both companies have declined comment on – the possibility of this purchase being connected to the test of a new BlackBerry Messenger (BBM) money transfer service in Indonesia has gone relatively unnoticed.
Earlier this month, DebitWay reported on an article released by the Financial Post that made an in-depth analysis of the testing of a new BlackBerry BBM app called BlackBerry Money that would allow Indonesians with a BlackBerry phone to send money over the BBM service to another BlackBerry phone user. Although both phone owners would need to have a registered Permata Bank account, the ease and flexibility of sending money through BBM has been likened to the simplicity of a simple text chat.
Indonesia was an easy choice to test the new BlackBerry Money app given that their phones are the most commonly used devices in the country. The BlackBerry Money trial has been limited to generation 5, 6 or 7 devices but according to a statement made to the Financial Post by T.A. McCann, vice president of BlackBerry Messenger “Assuming the trial goes well, you could assume all kinds of different expansion whether it be additional banks, addition (sic) countries, additional devices and of course all kinds of functionality,” he said.
Another reason why BlackBerry is looking to Indonesia to test the new BlackBerry Money app is that in a country of 249 million people where BlackBerry is a household name and product they stand the possibility of losing market share to rival companies including WhatsApp. and could possibly break into a money transfer industry currently dominated by industry giants MoneyGram International and Western Union.
BlackBerry shares saw a sharp rise following the late afternoon press release on Wednesday, and closed up at a gain of 8.1 per cent for the day. BlackBerry is scheduled to release fourth quarter reports on March 28th.
About the author: As the Financial Controller for DebitWay.ca, Sonia Wynter is responsible for all financial matters including controller-ship, billing, tax, payroll and the efficient operation of the finance team. In her role, Sonia liaises closely with management to implement system and procedure improvements and produce relevant financial reports. Her broad business experience and perspectives help the management team stay focused on the all important bottom line.
About DebitWay.ca: The DebitWay.ca corporate blog is your best source for news in the online payment, online shopping, remittance and money sending industries. DebitWay.ca is a leading payment service provider that focuses solely on debit card services for Canadians using INTERAC®Online for payments, remittance and online shopping. DebitWay.ca – Canada’s Favourite Way to Pay! www.debitway.ca