Summits Yellow

Bango expands in South Korea for retail and IoT payments

Tyrone Stewart
Ray Anderson Bango CEO
Bango CEO and founder Ray Anderson

Mobile payments company Bango has expanded its presence in South Korea to increase payment opportunities for digital, physical and internet of things (IoT) services in the nation.

Along with the increased presence, Bango has appointed a country manager for the region in the form of Alex Oh. His 25-year career has included technical leadership at the likes of Samsung, Dilithium Networks and Comverse.

“The Bango Platform is truly differentiated by being capable of powering physical goods sales and capabilities that enable internet connected devices to be monetised,” said Oh. “I look forward to expanding the established Bango relationships with Danal and Samsung, along with introducing the Korean mobile operators to the benefits of the Bango Platform, in particular the unique technology that increases content sales. I am thrilled to join the Bango team to help make its strategic partners – and anybody selling to internet uses – more successful.”

In 2016, Bango expanded its presence in Japan. This eventually led to it deploying a new payment method for Amazon in Japan. Bango says it sees similar opportunities for Direct Carrier Billing (DCB) in Korea, and expects the expansion to be a growth opportunity for its partners to collect payment for physical good, IoT services, and digital content.

“Following this year’s successful launch of carrier billing for Amazon in Japan, I am excited to establish a Bango presence in South Korea led by a hugely experienced country manager,” said Ray Anderson, Bango CEO. “The Bango strategy, to power the leaders in physical and digital retail, and in exciting new areas such as smart home, has seen a continued increase in End User Spend and Bango is EBITDA positive on a run-rate basis entering November 2017.”

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