Mobile payment solutions will see increased adoption by retailers, financial institutions and consumers as more companies start providing a reliable platform to execute the services. When Apple (News - Alert) Pay was introduced last month, more than 500 banks and many retailers around the world signed on to the platform, and today it is up and running. Not to be outdone, Samsung also announced a global payment agreement with Bango (News - Alert), a platform designed to simplify mobile payment using carrier billing.
With this agreement, Bango will have access to millions of Samsung (News - Alert) device users to deliver frictionless mobile payment for digital goods by charging the cost to their phone bill. This means users won’t need credit cards or a payment method from a financial institution in order to purchase applications, music, games and more.
The company will provide carrier billing, collection and settlement for digital content purchased on Samsung mobile devices and its application store, Samsung Galaxy Apps. This application store was established to provide exclusive Samsung content with discount and promotional offers while at the same time ensuring the content in the store are tested and reviewed before they’re put up for sale.
One of the benefits of using carrier billing is it offers individuals who are not able to obtain a credit card or have a bank account to start accessing resources online. Using the phone bill as a payment, individuals are able to purchase products. Even though currently most of the purchases are digital content, there are many retailers trying to forge alliances with telecom companies in order to provide the products and services they offer with carrier billing.
The Bango Carrier billing solution is used by all the major app stores including Amazon, BlackBerry World, Facebook, Firefox Marketplace, Google Play and Windows Phone (News - Alert) Store. The platform also integrates into more than 130 mobile network operator billing systems, and participating merchants are given similar data centers, networks processes, systems, technology and DOB integrations that are used by app stores.
Ray Anderson, CEO, Bango said, “Bango is uniquely positioned to bring app store quality payments to digital merchants. Bango has completely rejected Premium SMS payment, in favor of quality, direct operator integrations and uniquely authenticates users for one-click payment, even on Wi-Fi. By bringing these capabilities to the reach of digital merchants, Bango is promoting the best possible user experience, raising the bar for operator billed payments worldwide.”
Carrier billing is seen as the best entry point into emerging markets with limited banking infrastructures. With the millions of Samsung devices in these markets and the Bango platform, this might be one of the best partnership to come in a long time to access the previously inaccessible billions of dollars in developing countries.
Edited by Maurice Nagle
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