RIM rolls higher after Visa approves mobile payment method

Research in Motion shares rose nearly 6% Monday following news that the Visa credit card system has approved the smartphone company’s method for handling secure mobile payments. The Waterloo, Ont.-based company says the green light from Visa is a step towards offering global support for any device equipped with the BlackBerry maker’s mobile-payments technology. Visa’s […]

Research in Motion shares rose nearly 6% Monday following news that the Visa credit card system has approved the smartphone company’s method for handling secure mobile payments.

The Waterloo, Ont.-based company says the green light from Visa is a step towards offering global support for any device equipped with the BlackBerry maker’s mobile-payments technology.

Visa’s approval also builds on an initiative by Canada’s three biggest wireless networks through their EnStream joint venture.

RIM shares were up 85 cents, or 5.96 per cent, to $15.12 in early trading on the Toronto Stock Exchange.

The jump follows two days of big gains for the stock, which closed at $11.79 last Thursday.

The recent gains take RIM stock above $15 for the first time since last February.

RIM’s BlackBerry smartphones have built a reputation for highly secure mobile communications used by military, law enforcement and business customers around the world.

The company is hoping to use that reputation and a new generation of BlackBerrys to reclaim market share lost to Apple’s iPhone and Android-based smartphones.

The official unveiling of the BlackBerry 10 product line is scheduled for Jan. 30.

Research In Motion describes its Secure Element Manager technology, or SEM, as a way for networks to manage all types of mobile devices equipped for close-range wireless payments, also known as near field communications or NFC.

The EnStream joint venture owned by BCE’s Bell, Rogers and Telus (TSX:T) has already begun to deploy mobile payments in Canada using the RIM SEM technology.

“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, a RIM senior director responsible for mobile payment services.

“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.”

Media Articles

COMB adds two Western Canada members

Canadian Digital Network and Signpatico Digital Advertising

Pinterest moves into ecommerce with Buyable Pins

Shopping from the social service comes from partnership with Shopify

Inside Facebook: How to make sense of audience measurement

Are brands getting a handle on the mobile revolution?

WestJet’s expert social media response to bomb hoaxes

The airline's transparent approach has helped calm nerves

New survey tracks the divide between online and broadcast

Many find their faves online and show little knowledge of the new fall schedule

Lexus gets Maclean’s cover treatment

Automaker gets in early on cover/table of contents offering

Bell Media strikes with Women’s World Cup

Canada's five matches average 4 million viewers

Canadians continue ‘tuning out’ of traditional TV: MTM

Study shows slow, steady shift to smart devices and new media

PR agency leads should only follow on Twitter (column)

Veritas' Krista Webster says PR agency bosses have 'absolutely no right' to tweet