09 December 2016
Visit aciworldwide.com

Boku goes after the high street with new mobile wallet service

23 February 2012  |  7556 views  |  0 iphone apps on screen

Boku has unveiled a platform that lets customers make online and contactless in-store point-of-sale payments through their mobile network operator.

The US start-up's Paymo service currently lets people in more than 60 countries pay for virtual goods using their mobile number, with the transactions charged to their monthly phone bill.

In a major expansion, it is now widening the concept, with Boku Accounts, to full e-commerce and retail point-of-sale payments, effectively enabling mobile network operators to compete with banks and newer players like PayPal.

Operators can issue their subscribers a branded mobile payment account - which unlike Paymo is separate from their phone bill - accessible via both handsets and the Web. The account allows subscribers to make purchases online and in-app and to make person-to-person payments.

In addition, customers will be able to make in-store purchases via Boku accounts anywhere MasterCard is accepted, using a branded card, NFC-enabled handset or contactless sticker attached to their phone.

Merchants will be able to use the system for loyalty programmes and sending targeted offers to customers via mobile app, SMS, push notification, or online.


Boku is offering the service as a white label mobile payments platform for mobile network operators - more than 200 of which, including AT&T Inc and Vodafone already offer its Paymo service.

Mark Britto, CEO, Boku, says: "We are leveraging the power of the device in your pocket to improve every transaction you make, anywhere in the world, and helping our MNO [mobile network operators] partners expand into the off-line world, while bringing tremendous value to their subscribers and merchants alike."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Barclays launches mobile number-based P2P payments service

Barclays launches mobile number-based P2P payments service

16 February 2012  |  17560 views  |  3 comments
Facebook inks deal with mobile billing outfit Bango

Facebook inks deal with mobile billing outfit Bango

08 February 2012  |  6791 views  |  0 comments
La Caixa turns Barcelona contactless

La Caixa turns Barcelona contactless

12 January 2012  |  7742 views  |  0 comments
UK contactless payments momentum gathers pace

UK contactless payments momentum gathers pace

21 December 2011  |  11876 views  |  0 comments
PayPal trials mobile NFC payments in Sweden

PayPal trials mobile NFC payments in Sweden

20 December 2011  |  9828 views  |  0 comments
Telefonica to run BlackBerry NFC wallet and access control trials

Telefonica to run BlackBerry NFC wallet and access control trials

25 November 2011  |  7455 views  |  0 comments
Want an NFC iPhone? Just stick a bank card in it

Want an NFC iPhone? Just stick a bank card in it

01 August 2011  |  14679 views  |  3 comments
Orange and Barclaycard launch national mobile phone payment service

Orange and Barclaycard launch national mobile phone payment service

20 May 2011  |  13213 views  |  5 comments
Apple and Google vie for m-payments start-up Boku - TechCrunch

Apple and Google vie for m-payments start-up Boku - TechCrunch

02 November 2010  |  10375 views  |  0 comments
M-payments start-up Boku bags new investment

M-payments start-up Boku bags new investment

28 May 2010  |  8924 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit aciworldwide.comhttp://www.financialcrimerisk.fiserv.com/aml?r=finextraVisit VocaLink.com

Top topics

Most viewed Most shared
China tops world fintech rankingsChina tops world fintech rankings
8141 views comments | 38 tweets | 31 linkedin
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
7996 views comments | 25 tweets | 15 linkedin
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
7872 views 12 comments | 15 tweets | 27 linkedin
EBA bends under weight of PSD2 mandatesEBA bends under weight of PSD2 mandates
7830 views comments | 36 tweets | 47 linkedin
Convenience needed for business banking customersConvenience needed for business banking cu...
6753 views comments | 2 tweets | 3 linkedin

Featured job

Find your next job