Fortumo Brings Mobile Payments to Indian Game Developers Octro

Fortumo Cross-Platform Mobile PaymentsMobile payment company Fortumo has partnered with Indias largest mobile gaming company Octro to power in-app purchases for their most popular game, Teen Patti, on Windows Phone.

Fortumos mobile payments system uses carrier billing to enable mobile payments for consumers who dont have credit cards. They have focused on emerging markets, where smartphone use is increasing exponentially, but credit card use remains low, leaving consumers with little way of paying for in-app purchases through traditional means.

In India, less than 2 per cent of consumers have credit cards, while smartphone adoption has risen from 10 per cent to 22 per cent over the course of 2013. Combined with a young population who are eager to spend disposable income on games and other digital purchases, Fortumo are perfectly placed to provide consumers with a solution.

“India is one of the biggest markets for Windows Phone in terms of downloads but many developers are struggling with in-app monetisation due to low credit card penetration,” said Sanjay Sinha, head of Fortumo India. “We are confident that providing Octro with a carrier billing solution that any phone owner can use will significantly improve their revenue from Windows Phone in India.”

Globally, Fortumo have a presence in 81 countries, and carrier billing agreements with over 350 mobile network operators, as well as partnerships with game developers including Rovio, Glu Mobile, EA and Gameloft.

Outside of the games ecosystem, they have provided mobile payment solutions for Nook eReaders, digital content including films and music, and even Rovio plush toys to SingTel customers in Singapore.

“Fortumo is a globally known brand in this space,” said Saurabh Aggarwal, CEO and president of Octro. “It has integrations all around the world and its reputation gives us confidence to proceed as its partner. Integration was easy. Benefits are immense when we look at Indian populace.”