What do you get when you blend 40 operators with $39 million and a emerging Asian economies? Bubbly. Nope, it’s not a champagne or even the Colbie Caillat song by the same name, it’s a new set of payments rails that enable carrier-based billing for the Asian market. 6 years in development and 40 million customers later, here’s how it works.
Mobile social-network and messaging specialist Bubbly reportedly has launched a carrier billing-based payments engine for its premium products and services that supports one-time and recurring charges.
Bubbly developed the payment engine internally, though it plans to provide it to other developers in emerging Asian markets to extend its own business strategy, reports Techcrunch.com.
“Ninety-two percent of prepaid card users in Asia have less than $1 on their cards at any given time,” Bubbly founder and CEO Thomas Clayton said in an interview with the publication. “Now they can make small purchases that won’t go over their credit balances, like, for example, one rupee, one baht, or one rupiah at a time.”
Sequoia Capital and SingTel Innov8 are among the investors in Bubbly, which has raised $39 million and says it now has more than 40 million users.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More