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RIM's mobile payment solution gets thumbs up from Visa

RIM's mobile payment solution gets thumbs up from Visa
Terrence O'Brien
Terrence O'Brien|@TerrenceOBrien|January 16, 2013 8:59 AM

The final pieces of the puzzle are falling into place just ahead of the big reveal on January 30th. The carriers are on board, there's apps galore and now Visa has approved RIM's Secure Element Manager (SEM) for its mobile payment system. Being given the green light means that BlackBerry wont have to worry about being upstaged by the flood of Android devices coming down the pipeline with NFC payment solutions embedded in them. It's also a major boost to the SEM platform developed by the Canadian firm which has already won the backing of many carriers in its homeland, like Bell, Rogers and TELUS, but has struggled to gain a foothold in the US. For more, check out the PR after the break.

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RIM Receives Approval from Visa for Mobile Payment Solution

WATERLOO, ONTARIO--(Marketwire - Jan 16, 2013) - Research In Motion (RIM) (NASDAQ:RIMM)(TSX:RIM) today announced that its Secure Element Manager (SEM) solution for NFC (Near Field Communication) mobile payments has been approved by Visa. RIM''s SEM is the backend solution for carriers that can securely manage credentials on SIM (subscriber identity module) cards installed in all types of NFC-capable mobile devices.

"The approval from Visa of RIM''s SEM solution is an important step in that it will enable carriers to support Visa issuing banks and financial institutions," said Frank Maduri, Senior Director, NFC Services and TSM Product Management at RIM. "We now offer carriers a robust solution with around-the-clock global support that works on any NFC-capable device, and meets the stringent technology and usability guidelines for Visa."

"RIM''s success in gaining Visa''s formal approval as secure element manager is a crucial step in expanding RIM''s role as a key security partner for mobile payment solutions around the globe," said Andy Castonguay, Principal Analyst, at Informa Telecoms & Media. "RIM''s secure network operations center provides a unique combination of global geographic reach, and has established trusted relationships with hundreds of carriers around the world with an unparalleled reputation for security, which sets RIM apart as an SEM partner in the growing mobile payments space."

Today''s announcement from RIM builds on the recent deployment of mobile payments in Canada by EnStream, a joint venture of Bell, Rogers and TELUS, which uses RIM''s SEM solution.

RIM's mobile payment solution gets thumbs up from Visa