Ireland
payByMobile is an E-Commerce and Internet startup founded in 2009 and headquartered in Ireland. The company aims to facilitate mobile payments for online shopping, offering a payments wallet that is compatible with all UK mobile phones. Users can conveniently top-up funds and use Text to Pay or Text to Reserve options, which have shown to drive lower abandonment rates and higher sign-up conversion rates, resulting in a 10% * uplift in online sales. Additionally, the availability of Cash, ATM & e-Banking top-up options extends the service to a wide range of consumers, including the 42 million UK prepaid 'top-up' mobile users.
payByMobile's innovative approach not only streamlines the payment process for online shoppers but also eliminates the need for preregistration, making it accessible to anyone with a mobile phone. This user-friendly and inclusive model has the potential to significantly impact the online retail market.
At the 31 December 2009, payByMobile successfully secured a significant €750.00K Seed Round investment, marking a promising start for the company's growth and expansion. As the service continues to align with evolving consumer behavior and preferences, payByMobile presents an intriguing opportunity for potential VC investors looking to tap into the mobile payments and e-commerce sectors.
