Tapping into the mobile payment boom – Investors' Chronicle – Investors Chronicle

Annual results from Fonix Mobile (FNX:170p) highlight exactly why the technology group has been outperforming management’s expectations.
By offering a mobile payments service that enables merchants to charge customers’ mobile phone bills for products or services, Fonix’s technology turns the mobile device into a cash register while offering convenience for consumers. It’s an important customer acquisition tool, acting as a product differentiator to traditional payment methods, such as credit cards or ApplePay. Indeed, most merchants deploying Fonix’s payment solutions do so to reduce checkout abandonment and provide them with incremental revenues rather than cannibalising existing transactions from alternative payment methods.
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