Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
BilltoMobile Demonstrates Mobile Payments Via GSMA’s OneAPI Gateway
BilltoMobile, a leading provider of mobile payments for online purchases in the United States, has announced that it has been selected by the GSMA as a demonstration partner to showcase how mobile payments can be made in the United States via the GSMA’s OneAPI Gateway. The demonstration at the GSMA Mobile World Congress this week will illustrate how the BilltoMobile payment gateway can be connected to the GSMA OneAPI Gateway, allowing online merchant sites and developers to enable mobile payments to 65 per cent of all U.S. wireless subscribers.
BilltoMobile’s secure payment gateway is directly connected to the top two U.S. carriers’ billing, authentication and customer care systems. Purchases take seconds to complete, require no pre-registration or special hardware, and have no association with credit or bank cards. Purchases appear directly on the subscriber’s wireless bill, with no interest charges or subscriber fees of any kind.
“We’re very pleased to be working with BilltoMobile to demonstrate how we can expand the reach of the GSMA OneAPI Gateway to include mobile payment capabilities throughout North America,” said Graham Trickey, Senior Director at the GSMA. “BilltoMobile’s low-cost, robust and secure mobile payment gateway has allowed us to extend the reach of the GSMA OneAPI payment service and to enable the services that people really want in a clear, simple and secure way.”
BilltoMobile launched the United States’ first Direct Mobile Billing (DMB) service for Verizon Wireless’ subscribers in May 2010, attracting a number of prominent online game companies, and a wide range of digital goods and services merchants that offer the BilltoMobile payment option on their web sites. In October 2010, BilltoMobile launched its same proprietary DMB service in partnership with AT&T. Today, BilltoMobile is the only mobile payments company in the U.S. with direct-to-carrier billing agreements with two top U.S. carriers —reaching over 180 million U.S. mobile payment-capable subscribers.
Denise Archer, VP Carrier Partnerships, BilltoMobile, said, “We are very proud to be part of the GSMA OneAPI initiative, supporting the organization in reaching its ease-of-access goals, and demonstrating how quickly and easily we can expand the reach of the current GSMA OneAPI Gateway to offer mobile payments to their merchants in the United States.”
San Jose-based BilltoMobile is a privately held U.S. company that is providing Direct Mobile Billing to carriers in North America. BilltoMobile’s strategic partner, Danal Co., Ltd (Seoul, So. Korea), has integrated its financial-grade Direct Mobile Billing service with 14 carriers in Korea, Taiwan and China.
Source: Marketwire