Research in Motion Ltd. (BBRY): Mobile Money Platform in Indonesia

Research in Motion Ltd. (NASDAQ:BBRY) – er, BlackBerry, Ltd., which is a stock pick for about 30 of the equity hedge funds we track – is continuing its steady move forward with its new BlackBerry 10 operating system and Z10 handset, despite some less-than-impressive opening numbers in the U.K. and Canada. One thing that BBRY has going for it – which is nice – is that it has had a decent foothold in the mobile marketplace in Indonesia. And it is in that friendly, loyal marketplace, the company is looking to launch a new mobile-banking service.

Introducing BBM Money for the BlackBerry in Indonesia, announced by Research in Motion Ltd. (NASDAQ:BBRY) in partnership with Montilise plc and PermataBank. “With BBM Money, customers have the ability to create and access a mobile money account from their BlackBerry smartphone 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,” says a statement from Research in Motion.

BlackBerry Ltd (BBRY)The new platform will have a pilot program in Indonesia, and the program will allow BBM Money account holders with PermataBank to load cash into the account from a BlackBerry device and make other bank transactions. “BlackBerry leads the mobile and smartphone market in Indonesia, where BBM is extremely popular with our customers,” said T.A. McCann, BlackBerry vice president of BBM and social communities. “BBM Money, which uses BlackBerry’s BBM service, further evolves the BBM experience to move from real-time chat to meaningful and convenient real-time engagement. We are excited to be part of this pilot in Indonesia, where BBM has become an essential part of daily life.”

In related news, there seems to be some differing opinions of Research in Motion Ltd. (NASDAQ:BBRY) and its stock performance in the wake of the BB10 launch. UBS AG (USA) (NYSE:UBS) reported this week that it was lifting its price target from $9.50 to $13 per share and placed a “neutral” rating on the stock.  By contrast, a couple other analysts have lowered their targets. MKM Partners lowered its target to $10 from $12, while Canaccord Genuity posted a $9 target while affirming its “sell” rating.

What do you think? Let us know your thoughts about Research in Motion Ltd. (NASDAQ:BBRY) or your thoughts about this BBM Money concept that utilizes BlackBerry’s Messenger service to conduct mobile banking. Chime in below in the comments section.

DISCLOSURE: I own no positions in any stock mentioned.

Please see these related BBRY articles:

BlackBerry Launches Z10 in India

Analysts are Bearish on BB10

Some of the Dumbest Stock Moves

Dividend Stock Alert - Billionaire Robbins' Top Dividend Idea With 70% Upside Potential

Get Paid 3.5% Per Year While Waiting For The Stock Appreciate 70%

Larry Robbins' Glenview Capital Opportunity Fund returned 101.7% in 2013 and Robbins personally made $750 million. The same fund returned 25.3% in 2014. In this FREE REPORT we will share Robbins' top dividend idea that yields 3.5% and has been increasing its dividends for 39 consecutive years. Robbins thinks the stock has the potential to appreciate 70%.

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!