ASX-listed Mobile Embrace has announced the Russian expansion of its m-payments business, Convey, following the approval to launch its product on three major Russian telecommunications carriers.
Mobile Embrace will provide Russian telco customers mobile-optimised products and services with the ability to pay with direct carrier billing, an easy and secure mobile payment channel.
Get daily business news.
The latest stories, funding information, and expert advice. Free to sign up.
The addition of the three Russian telcos increases the serviceable market for Mobile Embrace’s m-payments business from approximately 28 million to approximately 200 million globally.
“This is a significant increase to Mobile Embrace’s m-payments business global market place and gives us outstanding reach and access to the Russian market where mobile is growing as the preferred internet access platform”, said Neil Wiles, managing director of Mobile Embrace.
Global revenues from mobile content, monetised through direct carrier billing, is expected to rise from $2 billion in 2012 to more than $13 billion by 2017, according to a report from Juniper Research.