Boku steps into PayPal territory

Heard of Boku Inc. before? Well, if you answered in the negative, heed this – you might want to pay closer attention to Boku from now on, as the online payments company will go up against PayPal which is owned by eBay. Boku intends to work on a mobile payment service which can actually see action in physical stores, and with the financial backing of venture capital firms such as Andreessen Horowitz and Benchmark Capital, you can be sure that Boku might have a potent weapon up their sleeves. Basically, their new service which was unveiled today allows folks to pay with any mobile phone – as long as credit cards are accepted, without worrying about where you are at that moment in time.

Currently, Boku provides carrier billing through approximately 230 wireless carriers, where AT&T, Vodafone and Verizon are some of the more notable names in over 60 countries. This particular service allows folks to pay with their mobile number, while such transactions are then charged to their monthly phone bill. Convenient, no? Boku’s service will feature a sticker that you place on the back of your handset, transforming it into an NFC-enabled device on the spot. Without having to buy a new phone or terminal, it makes plenty of sense.

Edwin Kee
Categories: Cellphones
Tags: paypal