Online Payments Give Retailers Competitive Edge

Image boxPAYA mobile payment platform that allows online customers to make a purchase in seconds and to charge the transaction to their mobile bill or prepaid balance has the potential to significantly improve online retailer revenues. Instead of filling out forms with personal information, a buyer simply types in his or her mobile phone number followed by a pin number received on his or her wireless device and the purchase is complete. Many companies specialize in secure mobile payment solutions, including boxPAY, a company that allows merchants to integrate payment options into ecommerce websites to enable SMS and direct carrier billing; Zong, a postpaid mobile micropayment service that was acquired by eBay in 2011; and BOKU, which partners with mobile network operators worldwide. In an era when almost everyone has a mobile device, mobile payment solutions that enable carrier billing and prepaid balance deductions can be an integral part of an online company’s expansion strategy. Many online retailers invest considerable time and effort into making shopping easy for customers, but unless they also make paying fast, safe and simple, it may be difficult for retailers to achieve their full sales potential.