BOKU.com, mobile payments made easy, NO Plastic Needed.
Today morning I was munching my breakfast after a solid gym routine and while scanning through my feeds, chanced upon an article on Watblog by Maneesh about mobile payments system by a company called BOKU.com where you DON’T need any credit card, debit card, bank account etc to make a payment.
I just jumped in the air and got glued to this post and quickly pounced to check out this site BOKU.com. And YES, they are offering direct payments through mobile phones without any card plastic / bank account.
If BOKU.com continues to expand their partnerships with more and more service providers like, there is nothing which stops BOKU to become the World’s most trusted and easiest online payment system.
BOKU.com is funded by Benchmark Capital, Index Ventures, Khosla Ventures. VC’s investments includes high-profile start-ups like Infinera, MySQL, OpenTable, PureDigital, Second Life, Tellme, Twitter, Yelp, and Zillow, and franchise companies such as eBay, Juniper Networks and Red Hat.
BOKU.com’s strong management team comes from web, payment and mobile companies like Amazon, AT&T, Apple, Bank of America, GE, Google, mBlox and Paypal.
They claim to have a strong fraud management systems from their strong experience in managing risk in top notch companies like Amazon, PayPal, Google, Bank of America, and FirstUSA and they claim that Mobile phone is a different story as its used by only you… lets hope that’s the case.
This is how the payments work in BOKU.com, citing an example via @watblog a payment test they did in Facebook on Texas Holdem Poker application.
This can be the NEXT big thing to fuel online business growth with over couple of billion handsets across the world. The 3 step easy process just makes it so lucrative for customers to go ahead and make a quick payment.
As a publisher we are up-beat about this service and I personally am very optimiztic that this system will completely revolutionize the online payments in the coming time.
If this is increasingly adopted by more telecom providers, this will basically revolutionize the online payment systems in India as well as worldwide. I had written about one application of such system (to book local train tickets through mobile) on my blog last year. This is super exciting news for many online businesses. However, what would be interesting to note is, how telecom providers cope with managing the Post-Paid customers with bills and recoveries and charge-backs.
Anyways, this is Fantastic, I being in a online games company where we handle daily online payments… this will help us boost our conversions significantly. I think all online publishers will welcome this as a booster for their sales.
Looking forward to a close collaboration with BOKU.com.