|RNS Reach Story|
|Go to market news section|
Mobile Streams branch out in Latin America with new digital wallet
London, United Kingdom - 31 Aug 2018 - Global mobile content retailer, Mobile Streams, today announces the launch of a new digital wallet for our services in Argentina. The secure payment system developed by one of Latin America's most popular online retailers will enable Mobile Streams to diversify payment options on its stores in the region.
Mobile Streams de Argentina launched mobile internet services in 2009, acquiring over 3 million subscribers with direct carrier billing through local mobile telecom operators. The new digital wallet will provide the means for Mobile Streams to generate revenue from a wider range of customers as it enables the user to pay using their mobile device.
Recent research from leading payments company Worldpay emphasised that Argentina's eCommerce market is expected to more than double over the next 5 years, making it one of the fastest growing markets in the world. mCommerce is likely to enjoy an even more dramatic increase, growing 34% year on year to be worth US$6.5bn by 2021. This growth is likely to be powered by consumer's embrace of alternative payment methods such as e-wallets.
Simon Buckingham, CEO of Mobile Streams said: "We are delighted to partner launch the new digital wallet on mobilegaming.com. While Argentina is a challenging market at this moment it remains an attractive market with growing smartphone ownership. We believe that the launch of the digital wallet on our stores is an important step in growing our subscriber base and increasing revenue."
Notes to Editors
About Mobile Streams
Founded in 1999, Mobile Streams distributes mobile content directly to consumers through its mobilegaming.com cross-platform games store. In 2006, the company completed an IPO in London (L: MOS). Mobile Streams operates globally through subsidiaries in North America, Latin America, Europe and Asia Pacific.
London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.
|©London Stock Exchange plc. All rights reserved|