Boku and GlobalCollect, the leading provider of online payment services in the eCommerce market, announced today GlobalCollect has selected BokuU as its global mobile payments partner.
The partnership integrates BOKU's payments platform into GlobalCollect's international payment network, allowing online merchants to accept mobile payments at checkout.
Using BOKU's bank-grade mobile payments technology, GlobalCollect merchants can enable their customers to make purchases online via their mobile phone number; charges appear on their operator bill. The partnership with GlobalCollect reinforces mobile payments as a mainstream payment vehicle helping merchants to acquire new customers, and provides consumers with a simple and seamless checkout experience.
BOKU's mobile payment network is available in 67 countries through more than 260 mobile network operators, offering GlobalCollect merchants a potential customer base of up to 4 billion consumers. This expanded capability builds on GlobalCollect's extensive experience of worldwide payment processing as well as its in-depth knowledge of card and alternative payment methods, cultural payment preferences, and monetizing video gaming platforms.
Significant and immediate increase in checkout conversion
"BOKU offers GlobalCollect merchants an opportunity to enhance their purchase experience by adding the convenience of BOKU for all types of digital goods and services," said James Patmore, SVP and Managing Director, BOKU. "Our merchant partners typically see significant, immediate increases in their market reach and checkout conversion, and we expect the same for GlobalCollect merchants."
By adding BOKU to the single-interface payments platform of GlobalCollect, merchants are now able, next to other payment methods, to quickly and easily integrate mobile payments into their checkout. The partnership leverages BOKU's pricing and transaction technology built by industry veterans from Amazon, Google, PayPal, Yahoo, Visa, BarclayCard, Bank of America, and AT&T. The combination of GlobalCollect and BOKU technology helps complete time consuming and difficult backend work for merchants, including foreign exchange, granular price points, multiple currencies & languages.
Partnership combines payments expertise to benefit merchants
"At GlobalCollect, we provide our merchants with the best fitting online payment methods available for their business, "Said John Snoek, Global VP Marketing. "BOKU's mobile payment platform is trusted and available in more countries than any other mobile payment option. Next to that BOKU brings unrivalled experience on the mobile payment process to the table. It was clearly the best option for our merchants, who now through the partnership can substantially increase checkout conversion, reduce cost and accelerate time to market of mobile payments.
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. As a result, BOKU technology increases conversion rates and new paying customers.