Last checked at 
(Sharecast News) - Mobile payments provider Boku launched its M1ST payments network on Thursday.
Boku said M1ST, also known as Mobile First, featured more than 330 mobile payment methods, including mobile wallets, direct carrier billing and real-time payments schemes - reaching 5.7bn mobile payment accounts in 90 countries.
The AIM-listed firm claim that people in Asia, Latin America, Africa and the Middle East were generally bypassing credit cards, and moving from cash to mobile payments like GoPay, Paga, PicPay and UPI.
However, Boku highlighted that mobile payment acceptance for global merchants was "highly complex", but stated that M1ST would solve "a number of these challenges" and allow merchants to easily accept mobile payments, globally, and at scale.
Chief executive Jon Prideaux said: "We've seen a fundamental shift of consumer purchasing power from west to east, from established to emerging markets, and from credit cards to mobile payments.
"We've spent the past decade delivering new customers to our merchants through mobile payments. Now that mobile payments have overtaken credit cards globally, merchant acceptance has moved from a competitive advantage to a strategic imperative."
As of 1020 BST, Boku shares were up 0.76% at 198.0p.
18 Nov 2024 10:48
IN BRIEF: Boku starts GBP7 million share buyback as sees valuation gap
Boku Inc - London-based operator of 'mobile-first' payments network - Launches on Monday a share buyback for up to 4.0 million shares, saying it believes its current share price undervalues the company. "The buyback programme represents a good investment opportunity and effective use of our growing own-cash balances as well as a reaffirming our belief in the company's long term growth plan," Boku says. At its current share price, the buyback is worth around GBP7.4 million. The buyback will be run by Investec Bank PLC and will be completed by the end of April. The repurchased shares will be held in treasury to satisfy warrant conversions and staff equity grants.
Read more
