boxPAY Proposing New Micro-payment Solution
- The Irish boxPAY exhibited its small amounts-based online payment solution, relying on the ISP’s bill at Mobile World Congress in Barcelona. This solution uses SMSs to provide underbanked customers with a means to pay online.
- The customer simply has to enter his mobile phone number through the Android app or using a dedicated website, he is then sent a code to be specified to make a payment. These amounts are added to their mobile operator’s bill.
- boxPAY claims it proposes free, simple integration and real-time reporting services to merchants for them to improve their conversion rate.
- Underbanked populations are here again targeted by a mobile-based initiative: the preferred medium in financial inclusion policies.
- boxPAY’s payment platform is present on four continents (in the US, in South Africa, in Australia and in Ireland). It is already available on some online gaming websites as well as on Facebook, and focuses on micro-payments. These kinds of payments are managed locally by national regulators and operators.