UK payment platform looks to ramp up LatAm sales

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Friday, November 10, 2017

UK company Bango, a developer of mobile payment solutions, is ramping up its investments in human resources and go-to-market to boost its Latin American sales, with a focus primarily on Brazil, Fernando Dias, VP of business development for Latin America, told BNamericas without disclosing further details.

Bango powers mobile payments for online stores and enables carrier billing and other alternative payment methods, expanding payment reach beyond credit cards. Global stores plugging into Bango's platform include Amazon.com, Google Play, Samsung Galaxy Apps, Window Store and PayPal.

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It provides integration between service providers' billing and app stores and offers a platform to deliver mobile payments.

The company arrived in Latin America three years ago with an operation in Mexico. Bango also currently has businesses in Brazil, Argentina, Chile and Colombia.

"Latin America does not have a major weight in terms of revenue, although it does in terms of projects being developed", the executive said. Dias said that, with nearly 1bn reais (US$305mn) in market value, Bango is the largest firm in its segment in the world.

Over the last year, the company closed eight new contracts in the region, many of which are still in development and whose revenue generation depend on the development of the projects.

Among its main Latin American clients are service providers Telefónica, TIM, Entel, Millicom, AT&T and Verizon, while "there are talks" being held with América Móvil, Dias said.