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.
Sprint Selects BilltoMobile to Provide Direct to Mobile Billing for Sprint Customers
BilltoMobile has announced a Direct Mobile Billing Gateway Servce Provider agreement with Sprint, which will allow Sprint customers to charge online purchases directly to their Sprint bill. Once implementation is complete in the coming months, merchants and payment resellers using BilltoMobile’s mobile payment service will be able to offer this payment option to Sprint customers.
“On the heels of our Sprint Mobile Wallet launch, we are pleased to work with BilltoMobile to present an additional payment option that will allow Sprint subscribers to conveniently and safely complete purchases on the Web,” said Kevin McGinnis, vice president of Sprint Product Platforms. “Our agreement with BilltoMobile represents another step forward in our efforts to provide our customers with the most innovative services and applications on the market.”
“Partnering with Sprint represents a major milestone for BilltoMobile, as it expands our reach to a vast majority of wireless subscribers in the U.S.,” said Denise Archer, vice president of carrier partnerships, BilltoMobile. “BilltoMobile is the only mobile payments gateway that can offer online digital goods and services merchants the technology infrastructure and broad consumer reach necessary to provide customers with a viable mobile payment option.”
The agreement with Sprint extends BilltoMobile’s overall reach to more than 240 million wireless subscribers in the U.S. across multiple carriers. These customers will now have instant access to BilltoMobile’s exclusive Direct Mobile Billing platform, which offers a simple, secure payment option that requires no registration, no set up, no application or downloads and no association with other financial instruments such as credit or bank cards. Purchases are completed in seconds using a two-step authentication process, and customers don’t have to expose any sensitive account information while using the service.
Through BilltoMobile, merchants and authorized resellers receive significantly lower carrier-inclusive processing fees, and a more robust approach to mobile payment processing. BilltoMobile’s Direct Mobile Billing platform involves real-time direct connections with the carrier’s billing system, advanced carrier-direct authentication systems and a direct real-time connection between the BilltoMobile service and the carrier’s customer care systems.
Source: MarketWire