Source: PaymentOne Corporation
PaymentOne Corporation, one of the world's fastest growing online Payment Services Providers (PSPs) and a leader in alternative payments, announced the addition and immediate availability of mobile payments with its industry leading PhoneBill service.
In addition to the over 100 million phone/broadband consumers, PaymentOne customers will now be able to offer over 150 million mobile phone consumers a simple and safe way to charge online digital content purchases to their cell phone. PaymentOne is the first provider to combine broadband and landline billing capabilities with mobile payments, providing online merchants a one-stop shop for alternative "no credit card required" payments.
To use their mobile bill to pay for online transactions, consumers can simply send a message to a specific short code or enter their mobile number into the merchant web site. Consumers will then confirm and authorize the charge and be able to access the content or service.
Celent, a major industry analyst, expects the value of mobile payments worldwide will more than double in the next couple of years, jumping from $24 billion this year to $55 billion by 2008.
Consumers, including younger demos as well as well-established segments with substantial disposable income, continue to demand safer, more convenient ways to pay online. Deploying advanced payment options represents a significant growth opportunity and competitive imperative for online merchants, and unlike other major enhancements, does not require up front investment or incremental marketing costs.
"No credit card required" payment options represent significant potential for content providers and network operators to attract more consumers. When asked specifically which existing bill they would like to add small purchases to, a majority of consumers pick their existing phone bills (see full 2007 Digital Media Payment Report at the Web site).
"We are pleased to provide our merchants even more ways to monetize and transact," said Joe Lynam, CEO of PaymentOne. "As lines will increasingly blur between mobile, online and IPTV, consumers and merchants alike will demand a safe, secure and low friction payment process irrespective of the medium. The consumer preference to simply 'bill it to my account' can now be even better served with our combined offer of Mobile, Fixed-Line and Broadband Carrier billing."
Since 2000, PaymentOne's flagship PhoneBill service has enabled consumers to simply charge internet services to their existing phone and broadband bills.
PaymentOne merchants have seen increases in new revenues of 25 to 35 percent. PaymentOne merchants have generated over $2.5 billion in incremental revenues by deploying "no credit card required" payment options, and have acquired millions of new subscribers that were previously unreachable.
PaymentOne's PhoneBill service including mobile payments is available immediately.