Fortumo, not only offers mobile payments in the U.S. and Europe, but focuses on emerging regions such as Latin America, Middle East, Africa, Central and Eastern Europe and Asia.
The partnership between Payelp and Fortumo will enable Payelp’s merchants to offer operator billing as a payment solution to their end-users; rather than charging purchases to a credit card, users can pay with their mobile operator bill instead.
Fortumo CEO Rain Rannu stated, “Mobile payments bring the biggest revenue to merchants from countries where few people have credit cards – Central & Eastern Europe, Latin America, Africa and Asia. Our common expertise in emerging markets with Payelp will help more merchants earn additional revenue through operator billing.”
Albert Donahue, CEO of Payelp Global, stated, “We are very happy to be working with Fortumo as they are a rapidly growing mobile payment service company that will help our merchants to expand into areas where mobile payments are growing at a rapid rate. In Canada, as well as in Eastern and Central Europe, mobile payments are on the rise. Fortumo has a strong presence in these growing markets, and we are looking forward to our partnership together.”
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
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