22nd May 2019 14:45
LONDON (Alliance News) - Boku Inc said Wednesday its trading since March, when it released its 2018 annual results, has been in line with management expectations.
Boku said the "anticipated continued growth" of its Payments business and the investment it has made in its Identity business gives the company confidence it will reach its guided revenue target of USD52 million for 2019.
The company said trading in its Identity business is "gaining momentum" and gross margins are "projected to remain strong".
In the first four months of 2019 monitored numbers, within the Identity unit, hit 69.8 million, a sharp increase compared to 12.5 million in the same period the year before. Billable transactions in the four month period totalled 102 million, more than double the amount in the same period last year.
Within its Payments unit, Boku said, in the first four months of 2019, total payment volume reached USD1.6 billion - which is a year-on-year increase of 64%. Average monthly active users in the same period were up 56% year on year to 14.6 million.
The mobile payment platform, separately, announced two new partnerships Wednesday.
The first deal is with the digital payments solution of Grab Holdings Inc, GrabPay. Boku said Grab Holdings is a "super app" in southeast Asia - which provides on-demand transport services, and also food, package delivery and payment services, across 336 cities in eight countries.
According to Boku, GrabPay is the region's most popular e-Wallet. Grab is the only technology company in southeast Asia with access to e-money licenses in the six major southeast Asian economies.
Bopku intends to integrate GrabPay into its own service, extending payment capabilities to allow cashless payments and acquisition of new customers.
"Southeast Asia is a great example of today's modern mobile-first society, and GrabPay has been leading the way in building tools and technology to help businesses support cashless payments," said Boku Chief Executive Jon Prideaux." We are thrilled to work with GrabPay to help make mobile transactions more simple and accessible."
Boku has also signed a deal with live sport streaming service DAZN.
Boku said the partnership is the first time its payments will be conducted through an internet service provider and traditional broadcast TV billing systems. Through the agreement, Boku will enable direct carrier billing and carrier bundling payment options for DAZN customers.
Prideaux added: "Boku is thrilled to work closely with DAZN to bring innovation to the over-the-top media industry and to simplify the way that viewers can access sports content, regardless of how they decide to watch."
Shares in Boku were up 6.6% Wednesday at 139.60 pence each.
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