Mopay supports mobile payments for physical goods in 28 countries
The company claims to be the first provider to enable mobile payments for physical goods around the globe. Mopay plans to not only be a major payment option for digital and virtual goods, but for all kinds of purchases.
“The mobile payments industry is constantly working on further enhancing mobile technology to allow payments to be processed through mobile devices,” said Kolja Reiss, managing director of mopay, Palo Alto, CA.
“Mopay is catering to merchants who focus on physical goods, strengthening its product portfolio and opening up its platform to more and more merchants,” he said.
Mopay is a mobile payments processer of virtual and digital goods.
According to the company, mobile payments are primarily used to purchase digital and virtual goods, such as music and in-game items via a mobile phone account.
Additionally, mopay claims that in most countries today, purchases via mobile payments are limited to a maximum value of about $25.
If a user makes a purchase higher than that, it is regarded as credit and requires a banking or e-money license.
“Physical goods billing is the ultimate goal for mobile payments, as it is the one defining criteria that separates it from established payment options like credit cards or PayPal,” Mr. Reiss said. “Mopay is already working with 400-plus virtual and digital goods merchants, and has seen an increasing demand to processing payments for physical goods through cell phone bills.
“Mopay especially focuses on charging underserved and unbanked consumers,” he said. “When it comes to ease of use in online purchases, mobile payment ranges well ahead of credit cards. There is no typing in loads of data and no risk of data theft.”
Currently, there are 28 out 74 countries where mopay is available as a form of payment, support billing physical goods to a user’s mobile account.
“The mobile phone has already become our most important accessory, and mobile commerce is no longer in its infancy, as it is maturing and being taken seriously,” Mr. Reiss said.
“By allowing to bill physical goods to cell phone bills, we made one more step toward establishing mobile as the central commerce model,” he said. “Living in an increasingly digital world, the demand for digital purchasing options is rising.”