January 9, 2016
[Press Release] - The mobile payments company Fortumo is today announcing that it signed up 20 new mobile operators and mobile operator groups to use its direct carrier billing platform in 2015. 12 of these partnerships are with carriers from Asia, a region where Fortumo has recently been heavily focusing on.
2015 has been a great year for carrier billing. In addition to leading app stores and game developers, we have onboarded number of top merchants in new industries like streaming, financial services, productivity tools and messaging. Through this traction, we are helping mobile operators earn more revenue in a situation where their traditional growth areas have slowed down, said Gerri Kodres, Chief Business Officer at Fortumo.
Part of its focus to emerging markets and Asia, Fortumo has announced partnerships with leading Asian carriers such as Viettel in Vietnam, Dtac in Thailand and Telenor Pakistan. The company has also expanded its footprint in the app store ecosystem, launching carriers like DNA for Google Play and Smart for Windows Phone Store. Beside app stores, Fortumo has brought to carriers streaming content providers (such as Sony and Gaana), top game developers (such as EA Mobile and Gameloft), smartphone manufacturers (Huawei, Xiaomi) and many others.
Fortumo suggests mobile operators also look beyond app stores for growing their carrier billing revenue. There is potential to double or triple carrier billing revenue in the digital content space beside app stores. This is especially relevant now when carrier billing is opening up to new segments such as music and video, wallets or virtual credit card top-ups, gift cards and mobile commerce, explained Gerri Kodres. In 2014, the global digital market* was estimated to stand at $43.85 billion out of which app stores generated $24 billion.
Fortumo has recently been focusing on partnerships with mobile operators in the Asia Pacific region. This has been driven by demand from merchants seeking to sustain growth as Western digital markets are slowing down. For example, while smartphone ownership increased only by 11% in the US in 2015, it jumped to 33% in India. Digital content spend is also rising at a faster pace in emerging markets. In the US, digital gaming revenue increased by 13.5% while in India it grew by 99.5%. This makes emerging markets an important focus for merchants and provides mobile operators in these regions the opportunity to generate more revenue from carrier billing.
Fortumo is a mobile payments company that enables direct carrier billing with more than 350 mobile operators in 90+ countries to over 130,000 merchants. Fortumo's payment products work across a wide range of platforms including desktop devices, smartphones, feature phones, tablets and smart TV-s. These products give end-users a simple, 1-click payment method to charge online purchases to their phone bill. For carriers, connecting to Fortumo enables additional revenue from leading app stores, game developers and digital media companies while Fortumo takes care of the technical infrastructure, taxation, merchant on-boarding and support in post-launch activities. Founded in 2007, Fortumo has offices in Estonia, San Francisco, Beijing, Delhi, Mumbai, Singapore and London and is backed by Intel Capital and Greycroft Partners. For more information, please visit https://fortumo.com.