Telefónica Digital has bought a stake in the mobile payments provider, Boku and will make its services available through Telefonica’s mobile networks.
Under the terms of the agreement, Boku will become Telefónica‘s preferred mobile payments partner and Telefónica will extend its relationship with Boku across its operating businesses.
Telefónica joined other investors in raising additional funding, totalling US$35 million for Boku.
‘Payments are going mobile and we want to be at the forefront of this trend,’ said Matthew Key, Chairman & CEO, Telefónica Digital. ‘Boku has quickly established itself as a true innovator in the mobile commerce space and this investment and partnership gives us access to their tools, infrastructure and know how, ideally complementing our own mobile payments expertise. Working with Boku will allow us to both enhance our operator billing capabilities and the overall payment experience through our future mobile wallet services.
Source : Cellular News