BOKU, Inc., the global leader in online payments, announced today an agreement with Sprint that will allow Sprint customers to easily and securely charge online purchases to their Sprint wireless bill through a simple two-step authorization process.
Sprint customers will be able to make purchases online from BOKU's extensive merchant network of Web-based gaming companies, social networks and service providers. BOKU's mobile payments system on Sprint includes top-tier merchant partners Electronic Arts, Riot Games, Jagex, Stardoll, Kingisle and Gaia Online.
"Mobile commerce is one of the fastest growing segments in the wireless industry," said Fared Adib, vice president of Product, Sprint. "Sprint is committed to giving our customers safe and secure options for making purchases using their wireless device, whether it is through direct carrier billing or using a mobile wallet. Adding mobile purchasing with BOKU will allow Sprint customers to continue to charge online digital purchases from more merchants right to their monthly Sprint bill."
Purchases can be made right on the user's Sprint phone or tablet, or on an alternate device such as a home computer. Once the user submits their purchase, they simply authenticate the payment and the charge appears on their monthly Sprint billing statement. Customers don't have to expose any sensitive account information while using the service.
In addition, BOKU's technology allows developers, merchants and entrepreneurs to easily incorporate on-device purchasing into applications. BOKU provides API-level support tightly integrated with Sprint's platform to allow on-device purchasing, advanced capture and transaction processing capabilities, along with the ability to pass refunds directly back to the customer's account.
"This agreement is a welcome expansion of BOKU's direct carrier relationships here in the U.S." said BOKU President Ron Hirson. "Most importantly, Sprint is focused on the future and strongly believes in empowering developers to drive innovation in the market. They focus on providing developers with the best tools and an industry-leading network. We're proud that they chose BOKU as a mobile payments platform to serve both their developers and their customers."
Sprint is an industry leader in mobile commerce solutions, offering Google Wallet on the Nexus S(TM) 4G from Google(TM), the first NFC-enabled mobile commerce solution in the U.S., as well as BilltoMobile(TM) solutions and Sprint Mobile Wallet, which stores customers' credit card and loyalty card information, allowing them to make online purchases on their device.
Separately, BOKU today announced a direct billing agreement with Deutsche Telekom (DTE:GR), the largest mobile network operator (MNO) in Germany. The partnership offers over 34 million subscribers in Germany the ability to pay for digital and virtual goods and services simply using their existing wireless account.
With this agreement Deutsche Telekom customers can access the huge portfolio of BOKU merchant partners to purchase a wide variety of digital goods and services, including virtual goods found in online games, digital goods, and Facebook credits. Customers simply enter their phone number to checkout, and respond via SMS to confirm the payment; the charge appears on their wireless bill. Merchants accepting BOKU® direct billing services benefit from this direct connection with a higher conversion rate and access to more paying customers including those with limited access to credit and debit cards.
"BOKU is extremely pleased to partner with Deutsche Telekom to provide an easy to use and high quality payments service to German consumers," said James Patmore, SVP of Global Carrier Relations for BOKU. "Our merchants find significant value in the high conversion rate of mobile payments for online purchases - it's much simpler than using a credit card or completing an ELV bank transfer. We're proud to offer the cutting edge technology and bank-grade payments platform, which makes this all possible."
Germany is a strategically important country for BOKU, a market which has persistently low credit card penetration. Germans prefer to have a mobile payment option in electronic and mobile commerce. BOKU offers an easy and secure solution for online purchases and personal consumption expenditure. BOKU opened offices in Germany in 2011 to bring additional resources to bear in the market, and Martin Buhl, formerly of PayPal, heads the office.