Bango expands in Asia with Danal partnership

Mobile payment company Bango plans to expand in Asia through a memorandum of understanding with South Korean commerce company Danal Korea.

Danal has a pan-Asian payment network focused on South Korea, China, Japan and Taiwan, by integrating Danal’s Asia payment network with Bango’s payment platform it will provide an additional payment route for global apps store partners.

In May Bango bought BilltoMobile, Danal's US based direct carrier billing business, and the company said the new agreement builds on the partnership and progress made by Bango in developing the BilltoMobile business.

The AIM-listed company said the partnership will provide a common technical standard for payments through the Bango payment platform. Danal payment methods will be integrated into the platform, enabling Bango's partners to increase their payment reach. Danal partners will gain access to the payment providers already integrated into the platform.

It would also include joint sales and marketing activity, specifically towards China. Through the partnership Danal and Bango will operate an exchange programme for each other's technical and business development teams in South Korea and Cambridge.

Bango chief executive, Ray Anderson, said: "Bango shares Danal's drive to make payment services easy and accessible to everyone. Our partnership with Danal has already led to Bango becoming the dominant direct carrier billing provider for the US market through the BilltoMobile acquisition."

Danal chief executive, Park Sung-chan added: "Danal is excited to work with Bango, bringing the pan-Asia reach and benefits of Danal technology to the world's largest online stores through the Bango payment platform. We are pleased to offer our largest merchants the leading technology and extensive global reach of the Bango payment platform, which is preferred by all major app stores wanting to offer alternative payment methods on a global scale."

Shares in Bango were up 2.48% to 82.50p at 0943 BST.