The mobile phone is turning into a mobile purchasing device. And Billing Revolution wants to help lead that charge. The Seattle mobile payments startup has landed $6.6 million in financing from DCM, SK Telecom and angel investors, money that CFO Alan Dishlip said will be used to “accelerate the pace” of the product roll out. “People have awakened to needing this check-out opportunity, and they realize that they can’t do it themselves,” Dishlip tells GeekWire.
Founded by former AT&T Wireless manager and WeddingChannel.com creator Andy Kleitsch, Billing Revolution already has about 30 companies using the service. Another 70 are signed up, and Dishlip said the pipeline is filling up very fast.
Zynga, the fast-growing social gaming company, uses the Billing Revolution technology to handle mobile transactions in the game Mafia Wars. In fact, the company is seeing a lot of traction amongst mobile gaming companies, a sector that Dishlip described as “low hanging fruit.” Billing Revolution is also used by Thorntons, one of the leading chocolate retailers in the United Kingdom.
Billing Revolution’s technology is resonating with customers because it utilizes the merchants’ existing billing infrastructure and offers an “extremely friendly” user interface, said Dishlip. The technology allows single click purchases after the user has input his or her credit card information.
That drives higher conversion rates than other technologies, Dishlip said. “We don’t require them to reinvent anything,” he added. Billing Revolution makes money by charging a transaction fee each time a purchase is made.
The company employs seven people, and has raised about $10 million to date. It plans to add staff in software engineering, business development and sales and marketing in the coming months.
Here’s Kleitsch showing off the technology on an Android device, explaining how one can buy a concert ticket.