Telefónica makes investment in mobile payments firm BOKU

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Telefónica Digital one of a number of investors as operator readies the launch of its mobile wallet services

Telefónica Digital has made an investment in online mobile payments firm BOKU, and said it is a “significant development” as it prepares for the launch of its mobile wallet services.

BOKU will become Telefonica’s preferred mobile payments partner, with the partnership giving BOKU access to Telefónica’s global footprint of 25 markets and 300 million customers.

It will provide Telefonica with access to BOKU’s merchant network, expanding the number of places customers will be able to use their Telefónica mobile wallet for purchases.

Telefónica joined other investors including New Enterprise Associates (NEA), Andreessen Horowitz, Benchmark Capital, DAG Ventures, Index Ventures and Khosla Ventures in raising additional funding, totaling €35 million (£29.2 million) for BOKU.

Telefónica Digital chairman and CEO Matthew Key said: “Payments are going mobile and we want to be at the forefront of this trend.

“BOKU has quickly established itself as a true innovator in the mobile commerce space and this investment and partnership gives us access to their tools, infrastructure and know how, ideally complementing our own mobile payments expertise.

“Working with BOKU will allow us to both enhance our operator billing capabilities and the overall payment experience through our future mobile wallet services.”

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