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.
PaymentOne Partners With BilltoMobile to Offer Direct Mobile Billing
Two of the leading mobile payment and carrier billing companies in the world have agreed to provide merchants and consumers with a seamless and secure mobile payment experience.
San Jose-based PaymentOne has partnered with BilltoMobile to offer PaymentOne merchants and customers more competitive payouts and advanced security compared to premium SMS through the BilltoMobile Direct Mobile Billing DMB payment service which is directly connected into the carrier billing system.
PaymentOne Corp., founded in 2000 and profitable since 2005, continues to experience exponential growth as the only provider to offer billing to mobile, broadband and fixed landline carriers through the PaymentOne AnyPhone solution.
PaymentOne has processed more than $4 Billion in retail charges for virtual goods and subscription services on carrier bills. PaymentOne’s AnyPhone Network reaches 3 billion consumer bills in more than 70 countries through contracts with over 1,100 operators.
BilltoMobile, and its strategic investor, Danal, Co., Ltd Seoul, Korea are also one of the global leaders in processing eCommerce mobile payments and have processed over $4 Billion in mobile billing transactions. Their service is leading the way globally for financial grade mobile payment standards that are revolutionizing the mobile billing space.
Joe Lynam, PaymentOne CEO, and Jim Greenwell, BilltoMobile CEO, issued a joint statement: “PaymentOne and BilltoMobile agreed to collaborate to enhance both the merchant and consumer value proposition. Consumers will benefit from a secure and convenient payment solution. Merchants and publishers will enjoy improved payouts and dramatically improved ‘friendly fraud’ mitigation from PaymentOne’s Propensity-to-Pay fraud management system. This collaboration will significantly enhance the world’s largest merchants’ and online publishers’ ability to monetize the rapidly growing consumer demand for virtual goods and services.”
Source: MarketWire