We are proud to announce a world first in mobile payments: Fortumo is bringing direct carrier billing to Pakistan together with Telenor. Any merchant looking to collect payments for their digital or virtual goods in Pakistan (the 6th largest country in the world) can do so now through Fortumo. For Android developers, Telenor Pakistan also gives the additional opportunity to distribute apps in Telenor App Store where in-app purchasing is powered by Fortumo.
Less than 1.5 million people in Pakistan own credit cards while there over 130 million mobile phone users. Telenor has 35 million subscribers in the country which means adding direct carrier billing increases merchants’ payment coverage in Pakistan approximately 20 times.
Much like in other emerging markets, cheap and accessible devices are quickly increasing smartphone penetration here. During 2014, ownership is estimated to grow about 50% and 15% of Pakistanis already use a smartphone. Since Telenor is also launching the country’s first 3G data network, adoption of smartphones should accelerate even more.
Mobile operator billing is usually the best way to reach more paying users in emerging markets, especially those with low credit card penetration like Pakistan. Fortumo makes it as easy as possible for developers as just one integration is needed to launch payments in over 80 countries.
Read the full press release here.