BlackBerry powers Indonesian mobile money initiative
BlackBerry, Monitise, and the Indonesian financial institution PT Bank Permata have announced the launch of BBM Money in Indonesia. BlackBerry is the leading smartphone brand in Indonesia and its flagship messaging service, BlackBerry Messenger, is extremely popular, especially among younger consumers. There are also a large number of unbanked and underbanked consumers in Indonesia. As a result, combining BlackBerryâ€™s customer franchise, Monitiseâ€™s strong mobile money platform, and PT Bank Permataâ€™s banking expertise looks like a winning partnership â€“ but is it really?
Ovum believes that the jury is still out. There was little in the announcement on the agent network that will support the service other than the use of PT Bank Permataâ€™s ATM network. As unbanked users typically cash in and cash out a lot when they first sign up to a mobile money service, a number of players have found it difficult to gain traction if an agent is not readily available to help users send or receive transactions.