Boku’s backend software enables it to connect to a wireless carrier’s billing system. Consumers use just their mobile-phone numbers to initiate transactions at a merchant’s checkout screen.
In 1-Tap’s case, consumers tap a button on their mobile screen to confirm a purchase. Boku’s backend system authorizes the transaction if the user’s wireless company allows direct-to-mobile billing, Yoo says.
“They have boiled this down to no friction for the consumer” to do these type of transactions on the mobile phone, Todd Ablowitz, president of Centennial, Colo.-based Double Diamond Group LLC, tells PaymentsSource. “It doesn’t get easier than that.”
Boku’s cost to merchants is similar to what other companies charge in the space.
Payments Source, July 1, 2011
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