Mobile payment company Boku has acquired German-based mopay, adding considerable carrier billing volume and clients at a time when Boku and other payment companies face increasing competitive threats from new players.
The San Francisco-based Boku will inherit clients such as Valve, gameloft, Wargaming and hundreds of other merchants. Boku's existing merchant base includes Facebook, Sony, Spotify and Electronic Arts. The combined organization will offer mobile payments in more than 80 countries with an addressable market of 5 billion consumers. The companies will merge and operate under the Boku brand. Terms of the deal were not disclosed.
By coming together we've created a company that can realize the vision of charging purchases to your phone bill as a truly global payment method at scale, said Jon Prideaux, CEO of Boku in an Oct. 7 press release. Together, Boku and mopay serve some of the largest digital merchants in the world and we have a tremendous pipeline in the works.
The deal will add scale and will enable the combined company to gird against the encroachment of the pending Apple Pay release and the growth of other payment disrupters.
Boku is working on more than one front in that effort. It's also partnering with telcos to enable consumers to buy physical goods through its carrier billing service.
Boku obtained a license to offer these services in Europe, and is partnering with the same telcos that recently dropped plans for a Weve mobile wallet.