In an interview with Business Weekly, Bango has revealed that the company’s end-user spend in mobile payment technology has increased 72 per cent to £18.45 million in the first half of 2015.
Bango CEO Ray Anderson believes Bango is well placed to exploit a number of opportunities that have been created in recent months.
“Despite the unprecedented strengthening of sterling against almost all of the domestic currencies in countries where we are most active, and a declining market share of BlackBerry devices, we have demonstrated an accelerating growth rate and remain on course to meet our 2015 exit run rate expectations.”
While “market presence of BlackBerry devices is reducing”, in March BlackBerry started deploying BBM across Android, Windows and iPhone devices using Bango technology to collect payments for BBM based payment services.
While BlackBerry have been reticent to reveal any details of how their goal of monetizing BBM is progressing, Anderson said this service was now starting to generate small but incremental revenues, giving Bango useful exposure and experience in the area of payments associated with social networks.
Anderson says:
“The Bango cost base remains stable but Bango technology and growing momentum has enabled increasing levels of engagement with more mobile operators, more App Store activations and has provided tools and technology that has enabled existing activations to grow their revenues quickly.”
