Bango signs new deal with Movistar MexicoSource: RNS
Movistar Mexico and Bango boost mobile payments in Latin America with Direct Carrier Billing
28 September, 2022 - Bango (AIM: BGO), the global platform for data-driven commerce, announces that Movistar Mexico, a mobile operator and subsidiary of Telefonica, has signed a partnership with Bango to streamline mobile payments through direct carrier billing (also known as DCB), aiming to promote the adoption of digital content and services among its subscribers in Mexico.
Once this integration is completed, Movistar will offer its customers in Mexico the option to purchase digital services such as apps, games, and content using their top-up balance (for prepaid customers) or by placing the charge on their post-paid mobile phone bill, providing a fast, simple, and accessible payment experience to all of its users. The consumption of digital content, particularly video streaming and mobile games, is increasing, and Movistar Mexico is dedicated to facilitating a seamless user experience by simplifying associated transactions.
The Bango payment platform offers digital service providers an optimal channel to collect micropayments for digital products and content, and also offers merchants the opportunity to expand their footprint and reach new customers and users, while generating more revenue.
Through the Direct Carrier Billing performed via the Bango platform, all users will be able to conduct faster and frictionless transactions in the major app stores and consume digital services while providing greater transparency and control over their purchases.
"The use of digital content is proliferating and in Movistar we are committed to facilitate the mobile commerce by simplifying the ecosystem. The use of streaming apps and mobile games is gaining ground, and initiatives such as this one with Bango, will enable us to democratize access to the latest digital services for our customers without them having to worry about lack of access to banks or credit cards", says Alfredo Izquierdo, General Marketing B2C Director at Movistar Mexico.
Cloud-based mobile gaming and video streaming services have grown in importance within the entertainment sector, to the point of becoming part of the daily life of a large part of the world's population. It is now the norm for media lovers across all demographics to access and enjoy content online, whether through online music platforms, live streaming of video game competitions, or other means.
In Mexico, the mobile gaming industry generated revenue of approximately US$1.51B in 2021, it is expected to increase to US$2.41B, while OTT streaming services reached US$1.14B in 2021, predicted to grow to US$1.9B in 2026*.
"Bango is committed to revolutionizing mobile commerce and the related consumer experience. This partnership with Movistar expands our presence in Mexico. The Bango Platform is designed to allow our partners to offer an optimal payment experience to their usersith easy and efficient integration, operator partners can offer the best digital services quickly and reliably. We are delighted to see our relationship with Telefónica grow from strength to strength", says Paul Larbey, CEO of Bango.
Tel. +44 1223 617387
Tel. +44 20 3100 2000
Paul Larbey, CEO
Matt Garner, CFO
Anil Malhotra, CMO
Rebecca Jamieson, IR
ABOUT TELEFÓNICA MOVISTAR MÉXICO
Telefónica is one of the largest telecommunications companies in the world in terms of market capitalization and number of customers. Using the best landline, mobile, and broadband networks as a basis, as well as an innovative range of digital services, the company is transforming into a 'Digital Telco,' which places it in a very advantageous position to satisfy the needs of its customers and attract growth in new revenues. It is present in Europe and Latin America, with more than 365 million customers. Telefónica is a wholly private company with 1.5 million direct shareholders and trades on the continuous market of the Spanish Stock exchanges and the London, New York, Lima, and Buenos Aires exchanges.
The world's largest online merchants, including Amazon, Google, and Microsoft, use Bango technology to acquire more paying users.
Bango has developed unique purchase behavior technology that enables millions more users to buy the products and services they want, using innovative payment methods, including carrier billing, digital wallets, and subscription bundling. Bango harnesses this purchase activity into valuable marketing segments called Bango Audiences. Merchants use these audiences to target their marketing at paying customers based on their purchase behavior. Better targeting increases spend through the Bango payments business, in turn generating more data insights, creating a powerful virtuous circle that drives continuous growth. Everyone connected to the Bango Platform thrives as the virtuous circle grows.
Bango, the technology behind every payment choice. For more information, visit www.bangoinvestor.com
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