LONDON--(BUSINESS WIRE)--Boku, Inc., the global leader in mobile payments, unveiled a new initiative, working with its wholly-owned subsidiary, Boku Account Services UK Ltd, and a number of leading Mobile Network Operators (MNOs), to reinvent its European direct carrier billing business. Prior to this initiative, carrier billing in Europe has operated under an exemption to the European Union’s Payment Services Directive (PSD), which was originally designed to facilitate the purchase of mobile wallpapers and ringtones and limited carrier billing purchases to digital content. By combining e-Money with the convenience of charging purchases to your phone bill, Boku is revolutionizing the carrier billing industry by launching a fully regulated payment product that provides:
- A carrier billing solution that can be used for the purchase of all types of goods and services, including all sectors of e-commerce (subject to compliance with the local regulatory framework)
- A clear regulatory framework offering superior levels of protection to consumers and merchants
Boku is partnering with O2, EE, and Vodafone in the UK, with plans to extend the solution to other major MNOs. Partners selling magazines and bus tickets have already signed up to use the Boku® e-Money solution and the programme will soon be extended to a range of real world goods and services.
“Up to now buying stuff and charging it to your phone bill has been restricted, limited to digital goods and operating in a regulatory framework designed years ago to handle ringtone downloads,” said Jon Prideaux, CEO of Boku. “We are now entering a new era for carrier billing. Boku has re-invented carrier billing as a mainstream payment method.”
“As an authorised e-money issuer, regulated by the Financial Conduct Authority, Boku enables consumers to make purchases quickly and simply,” continued Prideaux. “Merchants who allow their customers to charge things to their phone bill sell more. Mobile Network Operators can offer an improved experience to their subscribers, with Boku bearing responsibility for the entire compliance envelope.”
Boku, the leading carrier billing 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, Latin America, and Asia, Boku reaches nearly 4 billion consumers worldwide across 67 different countries with more than 250 operators. Boku partners with global merchants including Facebook, Sony, and Electronic Arts. 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/emoney