Boku, a provider of carrier billing-based mobile payments, has launched a new cross-platform solution named Phone-on-File.
Go deeper with GlobalData
The new solution will facilitate a streamlined checkout experience for one-time and subscription purchases by allowing consumers to store their mobile phone number as their preferred payment method.
The company is the only carrier billing provider and the solution is the first to enable the phone number to challenge credit cards on all platforms for repeat purchases. The solution is the first one to be developed with direct carrier approval to offer this functionality.
For availing this functionality, users will only be asked to provide a standing authorization to the merchant to charge their phone bill up to a specified limit.
Phone-on-File allows one-click checkout without the requirement of a credit card for one-time purchases. For initial sign-up, users need to complete a one-time SMS authentication following which all future purchases are done in one click.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAs the authorization is provided to the merchant, users can make use of the one-click checkout feature on any platform through which they purchase such as desktop, mobile web, and mobile in-app.
The one-click process cuts down checkout friction for consumers as well as improves conversion uplift for merchants.
The solution helps carrier billing to function like credit cards in case of subscription purchases. In this case, the technology allows carrier billing to be accepted as a recurring payment option without the need for subsequent approvals during the subscription period.
Besides, Phone-on-File helps merchants control the timing of the charge after a user provides the standing authorization, and offer key subscription features including free and discounted trial periods.
At the same time, it helps carrier billing to be easily integrated into the existing subscription engines of merchants.
Currently available in the UK, Germany, Italy and the US, the new technology is expected to be rolled out in more markets in the coming months.
