Boku extends its M1ST Payments Network into Thailand with TrueMoney
& Rabbit LINE Pay
Boku Inc., (AIM: BOKU), provider of M1ST, the world’s largest
mobile payments network has today announced the expansion of M1ST
into Thailand, with the addition of Thailand’s two most popular
mobile wallets, TrueMoney and Rabbit LINE Pay.
TrueMoney and Rabbit LINE Pay join the 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
(Boku), compared to credit card penetration lower than 10%
(Statista).
For global merchants, the opportunity in Thailand is
significant, with cross-border transactions making up more than 50%
of eCommerce spend (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, 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, 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, Rabbit LINE
Pay, commented, “With an increasing
demand for digital payment due to 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 TrueMoneyTrueMoney 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 PayRabbit 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.
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