PRESS RELEASE
May 3, 2012, 11:00 a.m. EDT
Agreement enables online and on-device purchasing from BOKU's extensive online merchant network using BOKU's bank-grade mobile payments technology
SAN FRANCISCO, May 03, 2012 (BUSINESS WIRE) -- BOKU, Inc., the global leader in online payments, announced today an agreement with Sprint S -3.50% that will allow Sprint customers to easily and securely charge online purchases to their Sprint wireless bill through a simple two-step authorization process.
Sprint customers will be able to make purchases online from BOKU's extensive merchant network of Web-based gaming companies, social networks and service providers. BOKU's mobile payments system on Sprint includes top-tier merchant partners Electronic Arts, Riot Games, Jagex, Stardoll, Kingisle and Gaia Online.
"Mobile commerce is one of the fastest growing segments in the wireless industry," said Fared Adib, vice president of Product, Sprint. "Sprint is committed to giving our customers safe and secure options for making purchases using their wireless device, whether it is through direct carrier billing or using a mobile wallet. Adding mobile purchasing with BOKU will allow Sprint customers to continue to charge online digital purchases from more merchants right to their monthly Sprint bill."
Purchases can be made right on the user's Sprint phone or tablet, or on an alternate device such as a home computer. Once the user submits their purchase, they simply authenticate the payment and the charge appears on their monthly Sprint billing statement. Customers don't have to expose any sensitive account information while using the service.
In addition, BOKU's technology allows developers, merchants and entrepreneurs to easily incorporate on-device purchasing into applications. BOKU provides API-level support tightly integrated with Sprint's platform to allow on-device purchasing, advanced capture and transaction processing capabilities, along with the ability to pass refunds directly back to the customer's account.
"This agreement is a welcome expansion of BOKU's direct carrier relationships here in the U.S." said BOKU President Ron Hirson. "Most importantly, Sprint is focused on the future and strongly believes in empowering developers to drive innovation in the market. They focus on providing developers with the best tools and an industry-leading network. We're proud that they chose BOKU as a mobile payments platform to serve both their developers and their customers."
Sprint is an industry leader in mobile commerce solutions, offering Google Wallet on the Nexus S(TM) 4G from Google(TM), the first NFC-enabled mobile commerce solution in the U.S., as well as BilltoMobile(TM) solutions and Sprint Mobile Wallet, which stores customers' credit card and loyalty card information, allowing them to make online purchases on their device.
About BOKU
BOKU, the leading online mobile payments company, brings bank-grade payments technology and mobile users together, creating a trusted, accessible platform for consumers, merchants and carriers alike. Based in San Francisco with offices in Europe and Asia, BOKU reaches nearly 4 billion consumers worldwide, across 66 different countries. Leading Silicon Valley entrepreneurs and venture capitalists fund BOKU including Andreessen Horowitz, Benchmark Capital, DAG Ventures, Index Ventures, Khosla Ventures and NEA. For more information visit: www.boku.com
SOURCE: BOKU, Inc.
