LONDON -- Shares in Bango
Bango is providing Facebook mobile web carrier billing in the U.K., Germany, and the U.S., with expansion to other countries throughout the remainder of 2012. In its update this morning, Bango described its service as allowing "web users to easily purchase digital content without the use of premium SMS messages or the limitations of credit cards."
The company reported that conventional operator billing is expected to achieve around a 40% conversion rate, while billing with the Bango payment platform delivers an average conversion rate of 77%.
Ray Anderson, Bango CEO, commented:
We are delighted to bring Bango's payment experience to Facebook. As the mobile web experience has matured and improved, consumers are increasingly keen to purchase digital goods on mobile devices. By ensuring a frictionless payment experience, Bango technology is unlocking the business potential of the mobile web.
The mobile web payment area is a growing sector and Bango is a leader, with existing app store connections to BlackBerry App World and Opera Mobile Store, as well as operator-led connections to Google Play. The company has also announced an agreement to provide payment services to Amazon and has become a technology partner for MasterCard's PayPass mobile wallet.
Today's news has helped Bango's shares rally from a low of 53 pence seen late last year, and some smart investors have thus enjoyed a superb 226% gain within 12 months.
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Sam Robson does not own shares in any of the companies mentioned. The Motley Fool owns shares of Facebook, Google, and Amazon.com. Motley Fool newsletter services have recommended buying shares of Amazon.com, Facebook, and Google. The Motley Fool has a disclosure policy.
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