Apple looking into mobile payments with BOKU

| Monday, November 1st, 2010

According to TechCrunch, Apple executives have recently met several times with Mark Britto, President and CEO of BOKU, and co-founder Ron Hirson. BOKU is startup company that provides a system for making online payments using mobile phones, particularly digital goods and social experiences. With BOKU, instead of using a credit card or bank account, to make a payment you simply enter in your cell phone number. A text will be sent to your phone, and by replying to the text, any charges will be sent to your monthly phone bill.

Apple isn’t the only one sizing up BOKU’s potential. Google’s Director of Engineering, Michael Morrissey, has also reportedly met with BOKU. Google is no stranger to BOKU’s services, as BOKU can already be used for in-app purchases on Android devices.

Although it appears to be mainly speculation at this point, BOKU may go for a nine-digit sum, possibly somewhere around the $250 to $450 million range. However, at this point no deals have yet been made with either company.

BOKU is one of several companies looking to take over the mobile payments market. It will be interesting to see whether the backing of a company like Apple or Google will be enough for a clear winner to emerge. It could be even more interesting if Apple and Google decide to back two different mobile payments companies. The Android/iPhone battle would move to a whole new stage.

Article Via TechCrunch

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