SAN FRANCISCO--(BUSINESS WIRE)--BOKU, Inc., the global leader in online mobile payments, today announced a direct billing agreement with Deutsche Telekom (DTE:GR), the largest mobile network operator (MNO) in Germany. The partnership offers over 34 million subscribers in Germany the ability to pay for digital and virtual goods and services simply using their existing wireless account.
With this agreement Deutsche Telekom customers can access the huge portfolio of BOKU merchant partners to purchase a wide variety of digital goods and services, including virtual goods found in online games, digital goods, and Facebook credits. Customers simply enter their phone number to checkout, and respond via SMS to confirm the payment; the charge appears on their wireless bill. Merchants accepting BOKU® direct billing services benefit from this direct connection with a higher conversion rate and access to more paying customers including those with limited access to credit and debit cards.
“BOKU is extremely pleased to partner with Deutsche Telekom to provide an easy to use and high quality payments service to German consumers,” said James Patmore, SVP of Global Carrier Relations for BOKU. “Our merchants find significant value in the high conversion rate of mobile payments for online purchases – it’s much simpler than using a credit card or completing an ELV bank transfer. We’re proud to offer the cutting edge technology and bank-grade payments platform, which makes this all possible."
Germany is a strategically important country for BOKU, a market which has persistently low credit card penetration. Germans prefer to have a mobile payment option in electronic and mobile commerce. BOKU offers an easy and secure solution for online purchases and personal consumption expenditure. BOKU opened offices in Germany in 2011 to bring additional resources to bear in the market, and Martin Buhl, formerly of PayPal, heads the office.
BOKU, the leading online mobile payments company, brings bank-grade payments technology and mobile users together, creating a trusted, accessible platform for consumers, merchants and carriers alike. Based in San Francisco with offices in Europe and Asia, BOKU reaches nearly 4 billion consumers worldwide, across 66 different countries. Leading Silicon Valley entrepreneurs and venture capitalists fund BOKU including Andreessen Horowitz, Benchmark Capital, DAG Ventures, Index Ventures, Khosla Ventures, and NEA. For more information visit: www.boku.com
About Deutsche Telekom:
Deutsche Telekom is one of the world’s largest telecommunications companies with more than 128 million mobile customers, about 35 million fixed-network lines and approximately 17 million broadband lines (as of September 30, 2011). The Group provides products and services for the fixed network, mobile communications, the Internet and IPTV for consumers, and ICT solutions for business customers and corporate customers. Deutsche Telekom is present in over 50 countries and has around 238,000 employees worldwide. The Group generated revenues of EUR 62.4 billion in the 2010 financial year – more than half of it outside Germany (as of December 31, 2010).
BOKU website: http://www.BOKU.com
Media Kit: http://www.BOKU.com/press/media
Deutsche Telekom website: http://www.telekom.com