San Jose-based mobile payments company BilltoMobile has announced a deal with Sprint, which will permit consumers the ability to pay for goods directly through their Sprint mobile devices.
BilltoMobile’s service is similar to mobile payment systems that have been popular in Europe and Asia for years. BilltoMobile, founded in 2006 and owned by Korean parent company Danal, has that past experience in markets more familiar with mobile payments. To use the BilltoMobile service, a user enters their mobile number online after indicating a preference to pay for goods or services via their phone number. A secure text message is sent to the user’s phone with a unique code to enter on the Web order. A purchase confirmation will appear on the phone bill. Transactions can be completed in 15 seconds without ever having to touch their credit cards.
Atop BilltoMobile’s previously closed deals with AT&T and Verizon, the implementation of BilltoMobile’s services across Sprint’s network will ensure BilltoMobile has access to most of the mobile customers in the United States. The addition of the Sprint deal will extend direct mobile payments to 240 million mobile subscribers. Furthermore, more merchants are offering mobile payments, including those of competitors Boku and Zong. Game industry merchant partners include publishers Nexon, NHN, Perfect World, and Gamania.
It’s clear the adoption of mobile payment solutions on the carrier and merchant side demonstrate how rapidly a consumer’s mobile phone may become their new wallet. The only uncertain element that balances out the equation is the consumer: Will they adapt to mobile payments with the steadily increasing comfort level that they have with Web payments?
[Source: VentureBeat]
