Boku has partnered with the UK’s three major mobile network operators (MNOs) O2, EE, and Vodafone to reinvent its European direct carrier billing business.
The global mobile payment firm is working on combining e-Money with the convenience of charging purchases to customers’ phone bill.
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As part of the process, Boku is launching a full regulated payment product that allows customers to buy all types of goods and services, including all sectors of e-commerce (subject to compliance with the local regulatory framework).
The product also provides a clear regulatory framework offering superior levels of protection to consumers and merchants.
Boku’s e-Money solution has already been signed up by partners selling magazines and bus tickets. The company also plans to extend the solution to other major MNOs.
Jon Prideaux, CEO of Boku, said: "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.
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By GlobalData"We are now entering a new era for carrier billing. Boku has re-invented carrier billing as a mainstream payment method."
Prideaux added, "As an authorised e-money issuer, regulated by the Financial Conduct Authority, Boku enables consumers to make purchases quickly and simply.
"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."
