Mobile payments company Fortumo has launched its mobile payment services in India.
Direct carrier billing with four of the largest mobile operators enables Fortumo payments to 530 million mobile phone users, the largest coverage of any mobile payment provider in the country.
"India has historically been a tough market to crack for mobile payment providers due to outdated premium SMS technologies being widely used, making payment integration for mobile game and app developers complicated. Fortumo connects to operators directly through direct carrier billing. In this scenario, users do not need to send any messages. This makes payments faster, in turn increasing conversion and revenue for developers", explained Gerri Kodres, SVP Business Development and Carrier Relations at Fortumo.
Despite the continued popularity of feature phones in India (80% market share in H1 2012), smartphones are seeing increased adoption – the number of smartphones sold in Q1 of 2013 grew by 74% with Android dominating the smartphone market at a 90% market share. The Indian mobile gaming market is estimated to reach 574 million USD by 2016.
Fortumo has previously announced direct carrier billing partnerships with some of the largest mobile operator groups in the world, including China Mobile, Telefónica and Telenor. In India, Fortumo’s direct carrier billing support is available to subscribers of Vodafone, Airtel, Idea and Tata Domoco who have a combined market share of 61% in India.