12th Aug 2025 12:37
(Alliance News) - Boku Inc on Tuesday said it will partner with graphic design software company Canva to process payments for the Sydney-based firm, which runs on subscription fees.
San Francisco-based digital payment provider Boku has a network of localised payment methods which aim to be an accessible "alternative to traditional card linked payments". Its client roster includes Amazon.com Inc, Netflix Inc and Tencent Holdings Ltd.
According to Boku, the tie-up will "identify and integrate several LPMs into Canva's platform, supporting its long-term payments strategy to serve new communities in key regions," where card usage is lower.
Boku emphasised growing demand for payment alternatives, noting the success of an existing collaboration between software-as-a-service platform Canva and Momo, a Vietnam-based e-wallet application. Momo has gained major popularity but is yet to realise plans for a public listing by 2025, reported by Reuters back in 2021.
According to research which Boku cited, LPMs will make up 59% of e-commerce transactions by 2028.
Chief Executive Stuart Neal commented: "We are delighted to partner with Canva and help broaden access to their visual communications platform by providing more payment choice for people across Asia. Local payments are now the world's preferred way to pay."
Boku shares were marginally higher at 220.05 pence on Tuesday afternoon in London.
By Holly Munks, Alliance News reporter
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