Fortumo has announced the opening of an office in New Delhi, India and the appointment of Sanjay Sinha as General Manager for Fortumo India. Establishing local presence in India will help Fortumo take an approach to one of the biggest emerging markets for online payments.
India has less than 20 million credit card owners, meaning 99% of the population cannot pay for content using services such as Google Play or PayPal. Meanwhile, direct carrier billing with Fortumo is available to 600 million phone owners in the country.
Fortumo has been operating in India since September when the company announced direct carrier billing support the users of Vodafone, Airtel, Idea and Tata Docomo.
“Monetization is the biggest challenge for mobile developers and Fortumo is ideally positioned to solve this problem. The mobile ecosystem in India is exploding with established companies setting up their mobile identity and hordes of new start-ups launching. My goal as the general manager for Fortumo India will be to secure a central role for Fortumo in this growing market.”
“India is such an important growth market for mobile payments, so we just needed to go local there. We’re excited to have Sanjay on board at Fortumo to help both Western developers earn revenues from India and Indian developers to make money from abroad”, said Rain Rannu, founder of Fortumo.
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