Paymo Goes Live in 39 Markets Globally; Brings Billions of Online Consumers Without Credit Cards Into Ecommerce Marketplace for First Time
network that allows consumers anywhere in the world to buy online and pay with
their mobile phone, today announced that its innovative payments platform is
now available in 39 markets around the world, allowing online merchants
everywhere to sell to more than 3 billion mobile consumers worldwide.
Merchants located in any county, including the United States, can now
accept Paymo in 39 markets around the globe. The company expects to start
accepting payments from US consumers early in the first quarter of 2009.
Paymo is currently available as a payment option for consumers in the
following countries:
Australia Guatemala Qatar
Austria Hong Kong Russia
Bahrain Ireland Saudi Arabia
Canada Jordan Singapore
Chile Lebanon South Africa
Columbia Malaysia Spain
Cyprus Morocco Sweden
Czech Republic Netherlands Switzerland
Denmark Norway Syria
Ecuador Oman United Arab Emirates
Egypt Palestine United Kingdom
France Panama Vietnam
Greece Peru Yemen
More than 70 percent of the world’s online population does not have a
credit card, and until now these people have largely been locked out of the
online shopping experience. Paymo opens up the world of online commerce to
include the more than 3 billion consumers globally who own a mobile phone.
With Paymo, users only need to enter their mobile phone number to initiate a
transaction and confirm the purchase via a text message. The purchase will be
billed directly to their mobile phone.
“In today’s challenging global economic environment we can’t afford to
exclude 70 percent of consumers from participating in the online marketplace,”
said
can open their sites to new consumers and revenue opportunities. Consumers
who don’t have or who don’t want to use their credit cards online, now have a
safe and secure way to shop online, without the need for sign-ins, usernames,
or passwords.”
Using Paymo
For consumers, Paymo makes it easy to pay online for items such as games,
avatars, virtual world goods, and applications for social networks or mobile
devices by simplifying the purchase process.
For merchants, incorporating Paymo into their website is a simple process
that opens their business to new consumers from around the world with a few
simple clicks.
Paymo eliminates the need for log-ins and passwords, remembering credit
card numbers or setting up separate accounts to facilitate online transactions
that are linked to a bank account or credit card. With Paymo, all consumers
need is a mobile phone to shop online and add purchases directly to their
mobile phone bill. And, because Paymo won’t work without the user confirming
the receipt of a text message, Paymo is safer than traditional methods for
online shopping.
The Team
The Paymo management team has a combination of industry experience and
knowledge of local markets that make them uniquely qualified to revolutionize
the mobile payments space. CEO and co-founder McGuire is a serial
entrepreneur with over 20 years of senior management experience. Prior to
co-founding Paymo, McGuire co-founded mBlox, the world’s leading Mobile
Transaction Network and led the company’s sales and marketing organizations
through significant growth while guiding the company’s expansion into the
European market and their M&A efforts acquiring six international companies.
The company’s Chief Financial Officer and co-founder,
has an extensive background in corporate and venture finance, and early stage
company and financial services management. Prior to co-founding Paymo
Mackenzie was the Chief Financial Officer for mBlox, Inc. responsible for
international finance, corporate development, human resources and legal and
administrative functions.
the company from private equity firm 3i where he was Entrepreneur in
Residence, focused on opportunities in the payments, mobile, internet and
software sectors globally. Prior to 3i, Gonthier co-founded Valista (formerly
iPIN), global leader in Internet and mobile payments software. Alexandre was
CEO of iPIN after having served as CTO at inception.
For more information about Paymo, please visit http://www.paymo.com.
About Paymo
Paymo is the trusted mobile payments network that allows consumers
anywhere in the world to buy online and pay with their mobile phone. More
than 70 percent of the world’s online population has no credit card, but over
3 billion consumers own a mobile phone. Paymo opens the world of online
commerce to these people, offering them the ability to buy online and pay
using their mobile phone. Paymo simplifies and streamlines the e-commerce
process for digital items such as virtual goods, video games, and applications
for social networks and mobile devices. Paymo provides a trusted global
payment system for online purchases that is fast, easy and secure. The
company is led by executives with vast industry and international experience.
The company’s payment solution is available globally and is currently live in
39 markets.
SOURCE Paymo