SAN FRANCISCO--(EON: Enhanced Online News)--Mobile payments company Fortumo has today announced the launch of its mobile payment services in India. Direct carrier billing with four of the largest mobile operators enables Fortumo payments to 530 million mobile phone users, the largest coverage of any mobile payment provider in the country.
"India has historically been a tough market to crack for mobile payment providers due to outdated premium SMS technologies being widely used, making payment integration for mobile game and app developers complicated. Rather than relying on old technologies which were meant for selling ringtones and wallpapers, Fortumo connects to operators directly through direct carrier billing. In this scenario, users do not need to send any messages. This makes payments faster, in turn increasing conversion and revenue for developers", explained Gerri Kodres, SVP Business Development and Carrier Relations at Fortumo.
Despite the continued popularity of feature phones in India (80% market share in H1 2012), smartphones are seeing increased adoption – the number of smartphones sold in Q1 of 2013 grew by 74% with Android dominating the smartphone market at a 90% market share. The Indian mobile gaming market is estimated to reach 574 million USD by 2016.
Fortumo has previously announced direct carrier billing partnerships with some of the largest mobile operator groups in the world, including China Mobile, Telefónica and Telenor. In India, Fortumo’s direct carrier billing support is available to subscribers of Vodafone, Airtel, Idea and Tata Domoco who have a combined market share of 61% in India.
Founded in 2007, Fortumo is the most developer-friendly mobile payments provider, enabling app and game developers to easily monetize users via micro-payments. Users pay with their mobile phone and purchases are charged to their mobile phone bill. Fortumo's mobile payments are cross-platform – on desktop, in mobile web and HTML5 apps – and are great for in-app purchases on Android, Windows Phone and Windows 8 devices. Fortumo has payment connectivity to over 300 mobile operators in 80 countries, including a number of exclusive direct carrier billing partnerships. Fortumo is backed by Intel Capital and Greycroft Partners and has offices in Estonia, San Francisco and Beijing. For more information on Fortumo, visit http://fortumo.com.