Digital Economy Mar 02, 2015

Bavaria and Silicon-Valley mobile payment leaders unite

Mobile payments by smartphone on the road to replace the wallets and purses in our pockets.

San Francisco-based Boku Inc. and Munich’s mopay AG, two of the world’s premier providers of carrier-based mobile payment solutions have merged to form one of the leading global providers of mobile payment services. The new company is about to take over market leadership under the Boku brand and chose Munich to be one of their operational centers. Together the two market leaders from Bavaria and Silicon Valley generate a new global giant that recently was awarded for the “Best Alternative Payments Project” 2014 at the annual “Payment Awards” in London.

Initially Mobile payment was solely used for the purchase of virtual goods, whereas in the meantime it is also common for digital goods like videos or music. Increasingly mobile payment takes over the physical world, which means that goods like bus tickets or coffee can be paid by cell phone. The number of users who appreciate this secure, comfortable and fast way of payment rises rapidly and only recently, Süddeutsche Zeitung, a leading German newspaper, heralded “the end of the wallet”.

Together the mopay and boku mobile payment service is available in more than 80 countries and can be accessed by around 5 billion cell phone users.