Mobile payments company BOKU announced its expansion beyond carrier billing today with the launch of M1ST, a mobile payments network.
M1ST, also known as Mobile First, features 330+ mobile payment methods, including mobile wallets, direct carrier billing, and real-time payments schemes. The payment methods reach 5.7 billion mobile payment accounts across 90 countries.
“Today, we’re launching the M1ST Network to enable global merchants to acquire, monetize, and retain mobile-first consumers,” said BOKU CEO Jon Prideaux. “For merchants to capitalize on the massive potential of mobile-first consumers, they need to accept the payment methods they have and prefer, which are increasingly behind glass screens, not rectangular pieces of plastic.”
The new network, which runs via a single integration, is a solution for the currently fragmented mobile payments space. The technology circumvents many hurdles that come with with payments, including the myriad of tax and legal regulations associated with different geographies.
With M1ST, merchants receive a single, global settlement which eliminates the complexity of local taxes, foreign exchange, and cash repatriation. Additionally, BOKU’s payment licenses enable merchants to accept regulated payments in nearly 50 countries.
BOKU’s new launch comes at a good time in the payments space. As consumers continue transitioning to digital banking and transaction methods, many are becoming increasingly comfortable with digital payments via mobile wallets.
Founded in 2008, BOKU offers digital customer acquisition, customer onboarding, and mobile user authentication tools. The San Francisco-based company currently serves more than 600 global merchant partners and processes $9 billion in payments every year.
Photo by Sander Weeteling on Unsplash
Cellular funds firm BOKU introduced its enlargement past service billing immediately with the launch of M1ST, a cell funds community.
M1ST, also referred to as Cellular First, options 330+ cell cost strategies, together with cell wallets, direct service billing, and real-time funds schemes. The cost strategies attain 5.7 billion cell cost accounts throughout 90 nations.
“Immediately, we’re launching the M1ST Community to allow international retailers to amass, monetize, and retain mobile-first shoppers,” stated BOKU CEO Jon Prideaux. “For retailers to capitalize on the large potential of mobile-first shoppers, they should settle for the cost strategies they’ve and like, that are more and more behind glass screens, not rectangular items of plastic.”
The brand new community, which runs through a single integration, is an answer for the presently fragmented cell funds area. The expertise circumvents many hurdles that include with funds, together with the myriad of tax and authorized laws related to totally different geographies.
With M1ST, retailers obtain a single, international settlement which eliminates the complexity of native taxes, international trade, and money repatriation. Moreover, BOKU’s cost licenses allow retailers to just accept regulated funds in practically 50 nations.
BOKU’s new launch comes at a superb time within the funds area. As shoppers proceed transitioning to digital banking and transaction strategies, many have gotten more and more comfy with digital funds through cell wallets.
Based in 2008, BOKU affords digital buyer acquisition, buyer onboarding, and cell consumer authentication instruments. The San Francisco-based firm presently serves greater than 600 international service provider companions and processes $9 billion in funds yearly.
Picture by Sander Weeteling on Unsplash