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September 04, 2009

Boku Announces Merchant, Publisher Customers for Payment Product

By David Sims, TMCnet Contributing Editor

 Boku, a product for online mobile payments, has announced that "a group of merchants and publishers" has reportedly selected Boku for its bank-grade payment product. 

And it's going to add a few more stamps to its international passport soon, adding payment service in Indonesia, New Zealand, Slovenia and Taiwan to total 55 countries.

"Mobile payments for digital goods is one of the fastest growing segments of mobility," said Dr. J. Gerry Purdy, vice president and chief analyst, mobile and wireless at Frost & Sullivan (News - Alert), in a statement. "We see billions of digital assets being purchase via mobile phone in the next few years."
The group of Boku customers spans the social and casual gaming, social networking and application spaces, company officials say, adding that these companies use the Boku service to sell digital goods and services to their global customers. 

In addition to online payments, the product offers analytics reporting, flexible billing and pricing, fraud and security management. Vu Hoang, co-founder of Aeria Games, said customers choose Boku as a payment method "because of its ease and simplicity."

Based in San Francisco, Calif. with offices in Europe, Asia and Latin America, Boku is funded by Silicon Valley entrepreneurs and venture capitalists Benchmark Capital, Index Ventures and Khosla Ventures.

In June. TMCnet had the news that Boku reportedly raised $13 million in venture capital investment led by Benchmark Capital, with participation from Index Ventures and Khosla Ventures. 
The company was "offering a new payments service for global consumers who make online purchases of digital and virtual goods with their mobile phones," TMC (News - Alert) reported at the time. "BOKU is building a new market for publishers and carriers by bringing bank-grade mobile payments to the Web."
In a related announcement, the company acquired both Paymo and Mobillcash businesses, two leading global mobile payments companies. 

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David Sims is a contributing editor for TMCnet. To read more of David’s articles, please visit his columnist page. He also blogs for TMCnet here.

Edited by Amy Tierney

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