It has been confirmed that it is Bango which is
powering Facebook Inc(NASDAQ:FB)’s mobile billing payments service, according
to Tech Crunch.
Facebook has started getting more aggressive
monetising its mobiles business and recently it started accepting mobile
payments for its mobile web service via carrier billing in the US, the UK and
Germany.
The world's No. 1 social network had introduced the
mobile payments service - whereby users could bill payments for virtual games
and game credits to their mobile phone operators - in June 2012.
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Under the new system users need not use premium SMS or
credit cards but can bill it to their network carriers using Bango, via a
single click.
Facebook is not the only platform where Bango's mobile
payment services are available. Similar services are available on BlackBerry’s
App World, Opera’s Mobile Store and Google Play, TechCrunch said.
It is also working with Amazon on a similar service. Bango’s payment service is available only
in the U.S., U.K., and Germany at the moment. The company promises to make it
available elsewhere in the coming months.
In a regulatory filing Bango said that it was the
carrier billing service that was providing the mobile billing services.
It also claimed that its one-click system resulted in
higher conversion rates of up to 77 percent among users.
The partnership
between Bango and Facebook underlines mobile's importance to the social
network. Soon after Facebook went public in May, the company was criticized for
having few options to monetize its mobile growth. As of the summer, Facebook
had nearly 550 million mobile users, monetized mainly through advertising.
On the other hand, shares of FB tumbled 9.30% to
$20.74 after Baron’s released a price target of $15 on the stock over the
weekend. The article stated that Facebook and its CEO Mark Zuckerberg were not
ready for the rapid shift to mobile and it will not be an easy task for the
company to play catch-up.
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