Mobile Payment Magazine

Fortumo

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Fortumo is an international mobile payment provider. The company offers various mobile payment solutions for web services and mobile applications. Fortumo services allow customers to make mobile payments in more than 70 countries on six continents, with a strong focus on emerging markets.

Fortumo started in 2007 as a spin-off of the mobile services company Mobi Solutions, and currently employs over 60 people in its offices in Tartu, Estonia, San Francisco, CA and Beijing, China. As of March 2013, over 82 thousand developers have signed up to Fortumo’s services. [Read more…]

Report: Mobile Wallets in the US – Review and Analysis

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Mobile Wallets US ReportA new report entitled Mobile Wallets: The U.S. Landscape by Mercator Advisory Group identifies U.S. mobile wallets by category and technology.

The physical wallet might someday go the way of the checkbook, used by few and no longer a necessity. Growing consumer use of smartphones is creating a market for mobile wallets capable of serving many of the same purposes physical wallets served for centuries but now are able to take advantage of a plethora of new functions made possible in an increasingly digital marketplace. [Read more…]

Fortumo Selects Payfone for Direct Mobile Billing

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Payfone, a leading mobile payment processing service, and Fortumo, a leading provider of mobile payments, today announced that Fortumo has selected Payfone to power the direct billing option for its in-app purchasing SDK. This direct billing mobile payment method offers better reliability and higher security as well as better payouts for developers. Through the partnership, Fortumo’s clients will be able to provide consumers with the ability to make safe and secure mobile payments in real-time from any device, such as PC, smartphone, tablet or Wi-Fi.

“We are excited to work with Payfone because of their deep integration with mobile operators’ billing systems,” said Rain Rannu, co-founder of Fortumo. “This in turn will allow us to continue to provide the highest converting in-app purchasing with more payment options for our clients.”

Payfone’s Mobile Commerce Service is directly integrated into the mobile operator’s network, which provides the ability to intelligently identify a consumer’s profile in the system and offers true payment authorization and authentication. Payfone’s Device DNA authenticates the consumer across a wide variety of parameters during the transaction, ensuring they get exactly what they paid for. By pairing the Device DNA to each transaction, Payfone is able determine if a transaction is from a lost or stolen mobile device or if the owner of the mobile account has changed. This translates into one of the most secure and frictionless user experiences, across any device.

Fortumo’s in-app purchasing SDK for Android is the preferred international monetization tool for some of the most popular mobile game and app developers. Payment is done in a single click with no login or registration required. Fortumo’s in-app purchasing library supports both direct mobile operator billing and premium SMS, automatically selecting the best option depending on country, operator and user. It comes with built-in support for consumable and non-consumable items and virtual currencies. Fortumo’s in-app purchasing SDK is available in 61 countries, 22 languages and 42 currencies for any developer for free at http://fortumo.com/in-app-payments

“We are pleased to be working with Fortumo to provide their clients with the most robust in-app mobile payments solution on the market,” said Rodger Desai, chief executive officer, Payfone. “With this partnership, Payfone’s technology will be leveraged for some of the largest mobile payment implementations worldwide.”

Source: PR Newswire