11th Dec 2015 08:37
LONDON (Alliance News) - Bango PLC on Friday said it has embarked on the second phase roll-out of its initiative to enable mobile network operators and mobile app stores to accelerate end user spend.
The mobile payments company's so-called Bango Boost technology allows clients to carry out a detailed analysis of carrier billing transactions to better understand user behaviour.
Bango Boost then recommends ways for MNOs to grow revenue and improve the conversion rate from carrier billing in app stores. The roll-out to a further six MNOs follows a "strong increase" in end user spend and "positive feedback" from three MNOs which piloted the initiative.
Bango said it remains confident that end user spend exiting 2015 will be more than double than the same stage the prior year.
"We aim to enable the leading app stores to maximise the opportunities in the growing market for direct carrier billing. While we are excited about growth from new markets in 2016, increasing end user spend through established billing routes is a key part of our strategy to further our market leadership," Chief Executive Ray Anderson said in a statement.
The wider roll-out of Bango Boost will contribute meaningfully to end user spend growth in 2016," Anderson said.
Shares in Bango were up 2.9% at 94.16 pence on Friday morning.
By Samuel Agini; [email protected]; @samuelagini
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