BOKU is an online payments platform that makes it easy and safe to pay for virtual and digital ... More
BOKU is an online payments platform that makes it easy and safe to pay for virtual and digital goods with your mobile phone. Purchases on many of your favorite gaming, entertainment and social sites can be charged to your wireless phone bill using BOKU. No credit card or bank account is required.
Last updated 12 Oct 2011
Published 12 Oct 2011
Boku comes across as the mobile payment system for gaming addicts but it offers serious benefits to merchants and carriers as well.
For customers the advantages are pretty clear. If you’re in the middle of an online game and need to pay for some virtual or digital goods then the last thing you need is to have to stop everything and enter credit card details into a payment screen.
Think how much easier it would be to hit a ˈpay by mobileˈ button enter your phone number and the respond to the subsequent text message from Boku. Fifteen seconds later and you’ll have paid for you points or coins and battle can recommence.
The service is available for contract or pay- as- you- go arrangements. The 15 second approval process will check the available credit with your mobile carrier and if there isn’t sufficient available the purchase won’t go ahead.
For merchants, any gizmo that makes it easier for users to part with cash must be a bonus and Boku certainly does that. By integrating the pay button anywhere in the website customers won’t even have to leave the site.
Another advantage for merchants of course is that the mobile phone method of payment is ultra-inclusive. Most people have a mobile phone even if they find it difficult to get a credit card or bank account. Boku opens the door to a whole new crowd of customers.
Carriers looking to add value to customer relationships with a mobile...