TIDMBOKU
Boku Inc
18 November 2021
REACH
18 November 2021
Boku Inc.
("Boku" or the "Company")
Boku extends its M1ST Payments Network into Thailand with
TrueMoney & Rabbit LINE Pay
Combined, the M1ST Payments Network reaches over 30 million
consumer accounts in Thailand alone
Boku Inc (AIM: BOKU), a leading global provider of mobile
payment and identity solutions, is pleased to announce that it's
extended its reach into Thailand through its M1ST (aka Mobile
First) Payments Network, the world's largest mobile payments
network, with the addition of Thailand's two most popular mobile
wallets, TrueMoney and Rabbit LINE Pay.
TrueMoney and Rabbit LINE Pay join Boku's M1ST Payments Network,
which includes 330+ payment methods in 90 countries, reaching 5.7
billion payment accounts. Combined, the M1ST Payments Network
reaches over 30 million consumer accounts in Thailand alone.
This milestone enables global merchants to unlock access to
millions of mobile-first consumers. According to J.P. Morgan, 82%
of all online sales in Thailand were conducted from mobile devices,
with mobile wallets being used in 23% of all transactions. Thailand
is one of the fastest growing mobile payments markets in the world,
with mobile wallet penetration projected to reach 63% by 2025
(source: Boku), compared to credit card penetration lower than 10%
(source: Statista).
For global merchants, the opportunity in Thailand is
significant, with cross-border transactions making up more than 50%
of eCommerce spend (source: J.P. Morgan). This latest addition to
Boku's M1ST Network further strengthens its commitment to ensure
retailers around the world gain access to a new generation of
mobile first-consumers in Thailand, Southeast Asia, and beyond.
Jon Prideaux, Chief Executive Officer of Boku commented: " For
digital merchants, the world is flat; they can sell to consumers
anytime, anywhere. Mobile-first markets like Thailand require
global merchants to accept the payment methods consumers prefer.
We're thrilled to add TrueMoney and Rabbit LINE Pay, opening up
access to millions of new mobile-first consumers in Thailand for
our merchants."
Koravut Pavitpok , Head of Commercial of TrueMoney commented:
"TrueMoney is the most widely used mobile wallet in Thailand today.
Our integration into Boku's M1ST Payments Network ensures that our
20 million users will be able to access digital services from
global merchants, using their preferred way to pay."
Victor Topoyossakul , Co-CEO of Rabbit LINE Pay commented : "
With an increasing demand for digital payment due to the Covid - 19
pandemic, our mission is to give our customers a seamless online to
offline experience and to be able to access what they need in daily
life. Therefore, connecting Rabbit LINE Pay users to more of the
online services they love is always important. We are pleased to
add Rabbit LINE Pay to Boku's M1ST Payments Network, joining LINE
Pay in Japan."
Enquiries:
Boku, Inc.
Jon Prideaux, Chief Executive Officer and Keith Butcher, Chief
Financial Officer
+44 (0)20 3934 6630
IFC Advisory Limited (Financial PR & IR)
Tim Metcalfe / Graham Herring / Florence Chandler
+44 (0)20 3934 6630
About Boku
Boku Inc. (AIM: BOKU) is the fintech powering the world's
largest mobile payments network, M1ST (Mobile First). The M1ST
Payments Network reaches 5.7 billion consumer payment accounts in
90 countries across more than 330 payment methods.
Boku's technology platform helps the world's most demanding
merchants attract, convert, and retain customers using mobile
payments. By turning payments infrastructure into a source of
sustainable competitive advantage, Boku safely activates a range of
new merchant business models - from bundling to subscriptions.
Boku's platform is used in 90 countries with more than a billion
verified transactions in 2020, contributing more than $8 billion to
the digital economy. Customers that trust Boku to simplify sign-up,
acquire new paying users and prevent fraud include global leaders
such as Apple, DAZN, Facebook, Google, Microsoft, Netflix, PayPal,
Sony, Spotify and Tencent.
Boku Inc. was incorporated in 2008 and is headquartered in
London, UK, with offices in Brazil, China, Estonia, France,
Germany, India, Indonesia, Japan, Singapore, Spain, Taiwan,
Vietnam, and the US.
To learn more about Boku Inc., please visit:
https://www.boku.com
About TrueMoney
TrueMoney is a Southeast Asia's leading fintech company
providing financial services for users including the unbanked
across 6 countries in Thailand, Cambodia, Myanmar, Vietnam,
Philippines, and Indonesia.
Established in 2013, TrueMoney has become a part of Ascend Group
in 2014 and also a partner of Ant Financial Services Group since
2016. Today, the company provides various financial services
through TrueMoney Wallet, the most popular e-wallet application
that enables convenience and ease of payments to serve every
lifestyle. Its extensive agent network and offline payment service
across Southeast Asia also enable millions of users in the region
to access to innovative financial services, leading them to better
lives.
About Rabbit LINE Pay
Rabbit LINE Pay is one of Thailand's leading digital payment
platforms, serving an estimated 8.5 million registered users. The
company was established in 2011. It is backed by LINE, one of the
most popular messaging apps in Thailand with over 50 million users,
Rabbit-the first e-money service in Thailand with a common
ticketing platform in BTS and AIS-the number one mobile operator in
Thailand.
Rabbit LINE Pay strategic direction is to bring user day to day
convenience life solution from food, shopping, transportation, and
bill payments. User can use Rabbit LINE Pay at affiliated
merchants, popular online shops, BTS, e-commerce platforms, and
physical stores.
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRABIBDBDUBDGBR
(END) Dow Jones Newswires
November 18, 2021 02:00 ET (07:00 GMT)
Boku (LSE:BOKU)
Historical Stock Chart
From Mar 2024 to Apr 2024
Boku (LSE:BOKU)
Historical Stock Chart
From Apr 2023 to Apr 2024
