Single-click payments specialist closes Series B round.
The funding was led by DCM and SK Telecom Ventures and will be used to hire marketing, business development and product staff.
Billing Revolution is firmly part of the rising pay-by-mobile space, but is actually a little different from Boku et al.
While they enable payment for digital goods from the phone bill, Billing Revolution enables the phone to be an easy payment channel for credit and debit cards.
Users enter multiple card details into the Billing Revolution app and from then on pay using these accounts with one click.
When the purchase is complete, Billing Revolution sends an SMS receipt to the phone.
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Billing Revolution says single-click checkout increases mobile checkout rates to 36 per cent for first time users and 78 per cent for second time users.
David Chao, co-founder and general partner at DCM, said: “Billing Revolution has built a disruptive technology that can fundamentally change how consumers buy from their mobile phones and tablets."
“When compared to carrier billing, Billing Revolution’s proprietary technology creates almost 50 per cent fewer clicks for the user. Less friction means more revenues for partners. We are excited to add Billing Revolution to our portfolio of companies.”
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