Telefonica and Boku unveil global mobile payments partnership (Spain)

Telefónica Digital has announced a strategic agreement with BOKU, the global leader in online mobile payments, to enhance its payments capabilities. The agreement, which also sees Telefónica participate as a strategic investor in BOKU’s latest funding round, is a significant development as Telefónica gears up for the launch of its mobile wallet services. The partnership opens up access for BOKU to Telefónica’s global footprint of 25 markets and 300 million customers, while providing Telefónica with access to BOKU’s expertise in secure and reliable online mobile payments.

BOKU has pioneered the use of mobile as a payments mechanism, creating a network of merchants and a method of quickly and easily paying for virtual goods via the customer’s mobile phone bill. Its recently launched BOKU Accounts service expands this, enabling offline purchases in physical stores.

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. The partnership will provide Telefónica with access to BOKU’s merchant network, expanding the number of places customers will be able to use their Telefónica mobile wallet for purchases. It will also enable an enhanced user experience for online and offline payments, while also improving Telefónica’s own direct to bill capabilities.

Matthew Key, Chairman & CEO, Telefónica Digital, has said that payments are going mobile and they want to be at the forefront of this trend. BOKU has quickly established itself as a true innovator in the mobile commerce space and this investment and partnership gives access to their tools, infrastructure and know how, ideally complementing their own mobile payments expertise. Working with BOKU will allow them to both enhance their operator billing capabilities and the overall payment experience through their future mobile wallet services.

Mark Britto, CEO, BOKU Inc said that BOKU is proud to partner with Telefónica to increase the adoption of mobile operator billing amongst consumers and merchants across the World. They are excited to be working closely with Telefónica to develop an optimal mobile payments solution. This partnership will benefit consumers in several ways, giving them a quicker, easier way to pay across all their connected devices and a better deal at their favorite merchants.