increases revenues, allowing hundreds of millions of new customers who do not have or do not want to use a credit card to buy products and services online. Paymo handles all the user billing, provides a simple electronic confirmation of the purchase and settles in the merchant's chosen currency. Paymo's conversion rates are up to 10X better than traditional payments.

For consumers — Paymo provides an easy, fast and safe way to pay online. A customer doesn't need a credit card or a bank account, and they don't need to register. Simply by entering a mobile phone number and replying to a text message, a user can make a purchase. The charges are deducted from a pre-paid balance or appear on a monthly cell phone bill.