Telefónica group has announced a partnership and investment in U.S.-based online mobile payments company Boku, a move that could further Telefónica’s plans to introduce NFC-based payment in its planned mobile wallets.
Boku last month unveiled a new offer, Boku Accounts, which it said could enable mobile operators to roll out telco-branded prepaid payment cards, as well as prepaid applications on NFC phones and passive contactless stickers. Boku’s initial payment network partner for the service is MasterCard Worldwide, but it could work with other networks.
To help fund that attempted expansion to the offline payment world, Boku today announced a new funding round of $35 million, which includes the Telefónica investment, along with additional money from its current venture capital backers.