DOB startup Coda Payments expanding in Asia
Direct carrier biller Coda Payments has raised $2.3 million in Series A funding and plans to expand to Malaysia and Singapore, according to TechInAsia.com. Since launching in March, the Singapore-based startup has partnered with more than 30 digital content providers in Asia, the site reports, and is partnering with Indonesian telcos Axis and Esia Mobile, who boast a combined 24 million subscribers.
In addition to working with telcos to allow subscribers pay for digital content through their pre- or post-paid mobile accounts, Coda also provides a "buy using mobile" link that lets Internet shoppers pay by keying in their mobile numbers. That process, which includes receiving an SMS seeking confirmation of the payment, takes about 10 seconds and requires no sign-up.
Coda CEO Neil Davidson told the website that his company receives a greater revenue share from telcos than other telco partners because of its focus on price-sensitive merchants such as online game publishers.