Bango a mobile payments company, has signed a global
agreement with Samsung Electronics Co., Ltd., the world’s leading smartphone
manufacturer. The agreement means that hundreds of millions of consumers using
Samsung devices will have access to frictionless payment for digital goods,
apps, music, games and more, charging the cost to their phone bill in one
click.
Bango will provide carrier billing, collection and
settlement for digital content purchased through Samsung’s app store, named
Samsung Galaxy Apps.
The roll-out begins immediately. Samsung Galaxy Apps is
focused on exclusive content, discounts and promotional offers. Taking a
curated approach, apps in the store have been extensively tested and reviewed
to ensure that only the very best make it to the device.
Carrier billing is emerging as a vital enabler of mobile
commerce, superseding credit and debit cards, and instead using the mass market
of phone and phone bill to democratize access to the universe of digital
content.
Analysis of Bango’s own payment data shows that where
consumers are only presented with a credit/debit card payment option,
conversion rates can be as low as 0.5 per cent in developing markets, and
rarely exceed 40 per cent even in developed markets where card penetration is
high. From January 1st 2014 to August 31st 2014, the average conversion rate
for carrier billing in app stores using the Bango Payments Platform was 82.4
per cent (based on a sample of five app store integrations, excludes
integrations with a monthly spend cap in place.)
Global leaders plugging into Bango include Amazon, BlackBerry World and Facebook.
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