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.
BOKU Partners with O2 and mpass for Direct Mobile Billing Services in Germany
Telefónica O2 Germany, a provider of broadband and mobile services, and BOKU Inc., an online mobile payments company, today announced a direct carrier billing relationship. Under the agreement, O2 customers can use BOKU’s payment platform to purchase virtual and digital goods ranging from .09 Euros to 30 Euros. O2 customers pay for goods by entering their mobile number and charging directly to their mobile phone carrier bill.
O2 is part of Telefónica, a global provider of broadband and mobile services, and the second largest carrier group in the world. O2’s mpass system allows direct carrier billing for the purchase of virtual, digital and physical goods.
This new partnership integrates the BOKU mobile payments platform into O2 Germany’s operator billing interface, enabling the following features:
- Support for one-off and subscription payments in Germany
- Full pricing granularity from .09 Euros to 30.00 Euros
- Authorization and Capture APIs with refund support
- In-App Billing support
- Web Billing support
“This agreement opens up the opportunity for BOKU merchants to offer payment for physical goods as well as virtual and digital goods,” said James Patmore, Managing Director, BOKU in EMEA. “Our partnership with O2 confirms our vision of evolving online mobile payments into a range of new vertical markets.”
“Understanding customer needs and merchant requirements in regards to our payment products is essential for continuing our success story in the mobile payment area. A close collaboration with BOKU ensures we position ourselves closely to the key players in the market,” said Michiel van Eldik, Managing Director Wholesale and Partner Management, Telefónica O2 Germany.
“We want to provide our customers with a safe, reliable, and convenient payment solution to pay for goods, be they virtual or physical,” continued O2’s van Eldik. “BOKU’s mobile payments platform has the right blend of technology and finance-grade infrastructure to mesh well with O2 customer needs.”
BOKU’s bank-grade mobile payment service is available to online merchants and publishers on a global scale. The BOKU service enables merchants and publishers to drive incremental revenue by offering carrier billing as a payment option to their customers. BOKU is connected to 230 mobile operators in more than 65 countries, and provides access to more than 2.5 billion potential customers who can pay by mobile.
Source: Business Wire