RIM gets approval from Visa for mobile payment system

When BlackBerry 10 hits the market, it will have a mobile payment system all its own. Visa has approved the Secure Element Manager (SEM) which is a total solution for any mobile device with NFC support.

This is a boon for RIM, and from the looks of it, will instantly make the BlackBerry maker a viable contender in the mobile payment arena. With BlackBerry handling the back end given its reputation for security and Visa verifying the payments, this solution is hoped to gain widespread support from merchants and carriers alike.

Despite those perceived advantages, RIM will still have its work cut out for it, it will be competing against Google Wallet, and presumably soon, Isis, which was developed by AT&T, Verizon and T-Mobile and is undergoing testing in Salt Lake City, Utah, and Austin, Texas. We will have to see if it is locked out of Verizon, AT&T or T-Mobile devices for sake of their Isis solution, but it will be a good thing to have in the stable when BlackBerry 10 comes to market next month.

source: AllThingsD