Research in Motion (NASDAQ:RIMM) announced Wednesday that Visa (NYSE:V) approved its mobile-payment solution.
According to the company, its solution for Near Field Communication mobile payments, called Secure Element Manager, allows carriers to securely manage credentials on SIM cards installed in 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,” Frank Maduri, a senior director at RIM, said in a statement. “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 is expected to unveil two new phones running Blackberry 10 on Jan. 30, as the cell phone maker attempts to regain smartphone market share.
Shares of the Waterloo, Ontario-based company were up 57 cents, or 3.91%, in late morning trading.