Bango, Telefónica Team on Mobile Payments
CAMBRIDGE -- Bango (AIM: BGO), the mobile payments and analytics company, and Telefónica Digital today announce that they have signed a Global Framework Agreement. The two companies will partner globally to create an enhanced direct-to-bill payment experience for mobile app stores. The partnership will combine Bango’s frictionless payment experience with Telefónica’s BlueVia Payment APIs, connecting over 314 million chargeable customers worldwide to the Bango Payments Platform. The ability to pay for digital goods and services via a mobile phone bill or prepay credit is a key way for content owners and developers to fully monetise their products. This is especially the case in developing markets, such as Latin America, where penetration of bank accounts and credit cards is very low. Trials of direct to bill in Telefónica operating businesses have proven its ability to drive sales. Where Bango has introduced operator billing to developed markets with high credit card penetration, the company understands that sales of digital goods have routinely increased by 300% to 400%. By integrating the single BlueVia billing API into the Bango Payments Platform app stores will benefit from Bango’s enhanced user experience for mobile devices, which generates higher payment conversion rates, especially from Wi-Fi-connected and other “off-network” devices. This is particularly important for the future of mobile payments as more than half of smartphones browsing app stores use Wi-Fi connections. A key goal of the partnership is to accelerate the availability of a standardised and open payment platform for all app stores and content providers and to dramatically improve the customer experience. The platform will be available to all app stores, supporting operator-billing and other payment methods through a single, common platform. The advantage to the customer is a seamless payment flow with no requirement to enter personal information or leave the payment session. Bango Inc.