The cited source has revealed that Facebook is expected to test Boku’s payment platform, dubbed Paymo, via which consumers will be able to buy virtual items for social games on the social network. This channel is set to allow consumers to purchase items such as games, avatars, virtual world goods, as well as applications for social networks or mobile devices.
How it works
In order to make a purchase, users must click on the Paymo logo, choose the country they live in and enter their mobile phone number. Users then receive an SMS which includes the name of the product they want to purchase, the product’s price and a demand to verify the transaction by texting ‘confirm’ back to the server. All purchases are added to the user’s mobile phone bill.
In addition, according to a report from allthingsd.com, most expect both Zong and Boku to eventually be bought, although both companies have revealed their intentions to remain independent. Moreover, both mobile payments services providers have received large amounts of venture funding from investors, such as USD 38 million for Boku and USD 15 million for Zong, respectively.
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