Mobile payment startup Boku rolls up social rivals, raises funding
Mobillcash, Paymo and Zong have spent the last year or so competing to offer mobile payment services, most prominently for social gaming applications and casual gaming sites. Now, as social gaming continues to grow in users and revenue, the competition is getting fiercer — and that means consolidation. Mobillcash and Paymo have been rolled up into a new, fourth company: Boku.
Founded at the beginning of this year by serial entrepreneur Mark Britto, Boku is trying to combine… Continue Reading
Paymo lets you buy social-network knickknacks on your phone
San Francisco-based Paymo just launched its mobile payment service, allowing users to buy virtual gifts on social networks via their cell phones. What’s more, these costs are folded into their phone bills. The service is now live in 40 countries.
When users make a purchase, Paymo sends them a confirmation text message. It focuses on micro-payments of $10 or less. The launch was funded by $5 million received in August from undisclosed angel investors. Paymo makes… Continue Reading
Paymo raises round for mobile payment system
Paying for goods with a cell phone has been a pipe dream for a long time. Paymo is the latest company that enables merchants to set up a cell-phone payment system. The company has raised a $5 million seed round of funding.
See the company’s full press release here.
Margaret Mackenzie, chief financial officer, told VentureWire that the amount was a convertible note and declined to name the angels who contributed.
Paymo was founded in 2007 with the… Continue Reading