Mobile payments startup Billing Revolution has raised $6.6 million in Series B funding, led by DCM and SK Telecom Ventures. This latest funding round will be used to hire marketing, business development and product staff.
Launched in 2008, the startup that offers a single-click billing and payment service for transactions on mobile phones, including Android and iPhone devices. Once consumers are ready to buy a digital or physical product from the Web from a vendor that employs Billing Revolution’s service for payment, they are taken to Billing Revolution’s purchase page where they input limited information (credit card number, expiration date, no registration, no login) from their phone.
When the purchase is complete, Billing Revolution automatically sends an SMS receipt to their phone. Billing Revolution says single-click checkout increases mobile checkout rates to 36% for first time users and 78% for second time users.