Startups vie for mobile-payment business

06/17/2009 | CNET

After a year of operating in the shadows, Boku on Tuesday officially introduced its mobile-micropayment service in a challenge to Zong, a year-old outfit with a similar strategy of using cell phone numbers -- rather than credit cards -- to make payments. Boku also announced that it had bought out a pair of smaller mobile-payment companies -- Paymo and Mobillcash -- and raised $13 million through venture capital financing.

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