Boku buys Paymo and Mobillcash

Boku, San Francisco-based online mobile payments start-up, that provides global consumers with the ability to make online purchases of digital and virtual goods with their mobile phones, raised $13 million in venture funding and purchased micropayments outfit Paymo and m-payments firm Mobillcash.

Boku’s CEO considers that the strength of these two acquisitions and company’s recent financing suppose to help to enable strategically global consumer adoption and accelerate global carrier coverage. Currently Boku claims carrier coverage in 53 countries and a potential 1.6 billion global consumer base. Boku will be targeting the mass-market for virtual goods and gaming, currently estimated to be worth around $8 billion. 

To pay for goods and services online, with payments charged to the monthly phone bill, consumers will only need to enter their mobile phone number. No registration and bank accounts are required. 

Boku is not the only company tapping this emerging market. Thus, US rival Zong launched in early 2008 currently has tie-ups with popular Web destinations such as RockYou, MyYearbook and Meez.