Mobile Payment Leader Supports Mobile Payments for Physical Goods in 28 Countries
MUNICH & PALO ALTO, Calif.--(BUSINESS WIRE)--mopay, a leading provider of mobile payment solutions worldwide, today announced that it now supports the purchase of physical goods in 28 countries. The announcement comes in response to an increase in consumer demand and the growing number of connected carriers that support physical goods billing.
“mopay’s ultimate goal is to not only be a major payment option for digital and virtual goods, but for all kinds of purchases”
The scope of mobile payments varies significantly between global markets. As of today, mobile payments in the western hemisphere are primarily used to purchase digital and virtual goods – such as music and in-game items – via a mobile phone account. In selected Asian and European countries, mobile phone users are able to purchase virtually everything from tickets to movie downloads to physical goods through their phone bill.
In most countries today, purchases through mobile payments are limited to a maximum value of around $25. Any purchase above that value would be regarded as credit and therefore require a banking or e-money license. A raise of these limits enables carriers – and ultimately mobile payment providers like mopay – to expand the range of offerings that can be purchased with a mobile phone.
According to a recent report from ABI Research, mobile payments in the U.S. could reach $2.4 billion in 2010, growing by 100 percent in one year but still representing only eight percent of the total projected ecommerce market. In Japan, where physical goods billing is a commodity, mobile payments make up almost 20 percent of ecommerce. Adding physical goods billing in the U.S. would easily double ABI’s predictions.
There is a significant financial opportunity for physical goods to be purchased via mobile payments. As this trend continues to grow in these markets and demand increases in other countries, mopay is answering the call with a mobile payments solution that facilitates the purchase of physical goods. Currently, 28 of the 75 countries in which mopay is available as a form of payment support billing physical goods to a mobile phone account.
“mopay’s ultimate goal is to not only be a major payment option for digital and virtual goods, but for all kinds of purchases,” said Kolja Reiss, managing director of mopay, Inc. “The Asian market is once again leading the way in purchasing physical goods via mobile phones and other markets are hot on their heels. By constantly adjusting our offering to keep pace with new developments, mopay actively pushes mobile payments to essentially become a replacement for cash and other intricate methods of payment, foreseeably eliminating the need for the traditional ‘wallet’ as we know it.”
About mopay
mopay is one of the world’s leading solutions for network provider-based billing of small amounts. Reaching more than 3.3 billion people with SMS-enabled mobile phones in 75 countries around the globe, mopay brings unprecedented mobile payments experience to U.S. and European consumers, offering a clear advantage over its competitors. The company has a blue-chip customer base including major brands such as Bigpoint, Gameforge, Innogames, Sulake and Travian. mopay, part of the MindMatics group, has close to 100 employees at locations in Germany, Austria, the United Kingdom and the United States. For more information, visit www.mopay-inc.com.
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