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BlackBerry Ltd (BBRY), Facebook Inc (FB) Go after Google’s Web Dominance

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BlackBerry Ltd is pushing its software pivot and the firm is making inroads into the services industry. News has it that BlackBerry has partnered with PayPal to allow BBM users send and receive money via PayPal directly inside their BBM apps. This mirrors Facebook Inc  recent move to set up a peer-to-peer money transfer service within its Facebook Messenger app.

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Last week, BlackBerry and PayPal announced that they’ve created a new service called BBM Money. BBM Money allows BBM users on BB10 devices, Android and iOS connect their PayPal accounts to their BBM app. To send or receive money within BBM via PayPal the user only needs to tap the PayPal icon within BBM to run payments.

Everybody has declared a war on web

All the tech firms are rolling out services that make it easy for users to run make payments right inside their messaging apps without the need to use the web. Facebook announced a Peer-to-Peer payments feature for its Messenger app sometime in March. The service requires users to link up their debit cards with their Facebook account in order to run payments. To run the peer-to-peer payment service, users will need to tap the “$” icon and the money is transferred within seconds.

A couple of months ago, Apple launched its payment service called Apple Pay. Apple Pay is not tied to a messaging service in the same way that Blackberry and PayPal have packaged their payment services. However, it allows for in-app and in-store tap-to-pay option that removes the need to use the web or whip out your debits card to buy something on the Internet.

Samsung also has a similar service named Samsung Pay on it smartphones. Google is also in the mobile payments scene as it plans to rebrand its Google Wallet service. The search giant has purchased Softcard (a payments app) and it is working on a payments division of its own. Google, of course, relies on the web. Facebook and BlackBerry are going around it to deliver services right to users.

BlackBerry’s obvious edge

BlackBerry might be a relatively new entrant into the mobile payment space, but the firm has what it takes to succeed in the market. To start with, BlackBerry’s BBM app has been licensed to run iOS and Android phone in addition to native BlackBerry phones. Hence, the firm can offer its payment service to users across different mobile OSes.

Secondly, BlackBerry’s name is synonymous with mobile security and the strong brand recognition will allow users trust it with their financial details. The firm has mentioned that BBM Money payments will be processed inside the firm’s secured servers.

The wallet wars are already on, but this is one war that BlackBerry is well-positioned to win. Whether the firm, along with Facebook and Apple, manages to do serious damage to Google at the same time remains to be seen.

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Victor Alagbe is a seasoned business and finance writer with a specialty in writing about how to invest for the long-term in healthcare, pharmacology, energy and tech stocks. His long-term focus is on stocks that provide a nice mix of growth and income. For the short term, he passionately writes about trading stock options for the excitement and leverage that stock options offer.

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