BOKU, Inc., announced today that leading Payment Service Provider (PSP) WorldPay has selected BOKU as its global mobile payments partner, integrating BOKU's payments platform into its payment network.
WorldPay's merchants can now enable their customers to make a purchase and pay directly via their mobile operator bill. This partnership demonstrates that mobile payments are becoming a mainstream payment vehicle that allows merchants to acquire new customers, and provides consumers with a simple and seamless checkout experience.
WorldPay merchants will now be able to instantly offer a secure, convenient and fast mobile payment experience, as well as enabling payments for mobile users without a credit or debit account. BOKU's mobile payment network is available in 67 countries through more than 260 mobile network operators, offering merchants a potential customer base of up to 4 billion consumers.
"WorldPay is a leading payment service provider with an outstanding network of merchants," said James Patmore, SVP and Managing Director, BOKU. "Our technology helps do the hard work for our merchants, things like foreign exchange, granular price points, multiple currencies & languages, and more. We believe BOKU offers WorldPay merchants a powerful tool for the acquisition of new customers and an opportunity to enhance their purchase experience, leveraging the convenience of BOKU for all types of digital goods and services."
BOKU is the global leader in providing bank-grade mobile payments technology to merchants online. Through BOKU's direct APIs, merchants can easily integrate mobile payments into their checkout and leverage BOKU's pricing and transaction technology built by industry veterans from Amazon, Google, Paypal, Yahoo, Bank of America, and AT&T. Existing WorldPay merchants will now have extended capabilities to add carrier billing as an option by registering with BOKU and activating the service using their WorldPay account.
Gabriel Hopkins, Head of eCommerce Products, WorldPay comments: "mCommerce has grown in popularity among consumers over the past few years and mobile transactions are now a viable way to pay for goods and services. Yet, research has shown that there is still room for improvement when it comes to meeting consumer requirements for mobile payments. BOKU has continued to address such demands with a platform that has proven to be a convenient and trusted option for mobile shoppers. As mobile carriers have entered the payments space with competitive commercial rates and true payment APIs, this is the ideal time to offer our merchants a mobile payments checkout option. BOKU's broad reach, extensive direct API carrier connections, global scale and innovative technology makes it the best option for WorldPay and its merchants."
Recent WorldPay research has found that convenience is the top of consumers' wishes when purchasing via mobile. 39% of those surveyed were frustrated by the length of the mobile transaction process, with 38% irritated by the amount of information they were required to provide the retailer. However, BOKU technology allows a user to simply enter the phone number to check out and confirm with the letter "Y" via SMS - no other information needed. Moreover, with BOKU's patented predictive billing technology, the average transaction time is only 3-5 seconds to complete a transaction. As a result, BOKU technology will increase conversion rates and new paying customers for WorldPay merchants.
BOKU mobile payments are immediately available to WorldPay merchants looking to offer alternative checkout options to customers.