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Capitalise on a big data technology play

The provider of a state-of-the-art mobile payment platform has signed a contract with a major global telecoms provider, potentially the first of many
Capitalise on a big data technology play

Aim-traded Bango (BGO:125p), a provider of a state-of-the-art mobile payment platform enabling smartphone users to charge purchases made in app stores straight to their mobile phone account, has signed a significant, multi-year platform agreement with a major global telecoms provider.

This is quite some endorsement of Bango’s technology and it could be the first of many. That’s because demand for streaming services has surged during the global lockdown and major telecom operators are trying to capitalise on this trend by delivering a wide range of third-party products and services such as Netflix and Amazon Prime, and then market them effectively to their customers in a most efficient and cost effective way.

Under the three-year agreement, the telecoms provider will deliver a range of third-party products and services to its customers through the Bango Platform and will also benefit from Bango data insights to optimize the targeting of product offers. The award is worth at least £1.5m to Bango, and there is a further opportunity to earn additional revenues by upscaling the offering.

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