PAYNOVA LAUNCHES REVOLUTIONARY SMS PAYMENT SOLUTION
Paynova AB (publ), which is listed on NGM Equity, is launching a new payment solution for SMS payments in April. With existing SMS solutions, a payment by SMS costs the seller up to 50% of the revenue, making SMS payments in their current guise an expensive option for most traders. Charitable organisations also find it difficult to work with solutions where large proportions of the donations are swallowed up by transaction costs.
“Our solution could revolutionise SMS as a payment solution. One example is the telephone vote for the Swedish round of Eurovision which raised funds for Världens barn, the children’s charity. A total of 3.9 million calls were received, which generated a gross income of just over SEK 22 million. Of this, the children’s charity received SEK 5.5 million directly, or SEK 1.41 a call. If viewers had instead been offered an opportunity to pay by Paynova SMS, Världens Barn would have received 66% more* or SEK 2.34 a call,” says Paynova’s CEO Pelle Hjortblad.
“Another example is the service provider who wants to charge SEK 30 for a service through the current Premium SMS, of which he can keep 50% or SEK 15. With Paynova SMS, the same service provider can reduce the price to SEK 20 without changing the margin, or offer the same price and receive just over 80% of the selling price,” continues Pelle Hjortblad. The new service has a far higher margin than the Paynova Wallet, and the company expects that once it is established some 10% of its income will be generated by Paynova SMS.
* Comparison between viewers who had used Paynova SMS and those who called and voted by mobile phone.
For further information. please contact:
Pelle Hjortblad, CEO Paynova AB
Phone: +46 (0)8-517 100 07 Mobile: +46 (0)701-810 110
About Paynova
Paynova AB, listed on NGM Equity on 26 February 2004, is a company specialising in secure online payments. The Paynova Wallet is a digital wallet for digital transactions that can handle amounts from 5 pence and up. The digital wallet enables the customer to manage and control purchases limiting his/her personal credit card or eBanking information to only one counterpart. The Paynova Wallet is easy to acquire and use, and simple for the merchant to install. More than 20 000 banks worldwide accept the Paynova solution for VISA and MasterCard payments. Since its launch in 2001, Paynova AB has signed agreements with more than 500 companies and organisations that now offer the Paynova Wallet as a payment option on their websites. Pelle Hjortblad is the CEO of Paynova. The full Paynova share prospectus can be found at www.paynova.com