Users may be wary of using credit cards or internet to buy digital goods, but JunoTele lets people pay through their mobile talk time.
Most new-age, mobile-first companies from Silicon Valley find it easy to attract consumers in emerging markets such as India but hit a wall when it comes to getting them to pay for products and services.
So when a Bengaluru-based startup offers a payment solution — and one that doesn’t require credit cards or the internet — large players including Facebook are bound to be interested.
“They (Facebook) have shown interest in using our product,” said Sekar Rao, chief executive officer of JunoTele, which has patented a way for users to pay for digital goods from their mobile talk-time account. Rao, 49, said executives from Facebook’s Singapore office had spoken to him about aspects of his company’s product, including the core offering — direct billing from carriers. Facebook declined to comment.
JunoTele bypasses credit cards and the internet by using a telecom operator’s signal to carry out transactions — the same one that’s used to make regular phone calls.