Bango plc (LON: BGO) has expanded its presence and business development activity in South Korea, increase payment opportunities for digital, physical and Internet of Things (IoT) services across the region.
The AIM-listed mobile payments company announced that to lead these opportunities it has appointed Alex Oh as Country Manager, South Korea, whose 25-year career includes technical leadership at Samsung, Dilithium Networks and Comverse and most recently in the field of media streaming devices.
WATCH: Bango sees massive opportunities in the 'Internet of Things' space
Early in 2016, Bango expanded its presence in Japan to support the activities of partners using Bango technology in strengthening their offering in the Japanese market.
The group said Korea shares many characteristics with Japan and Bango has identified similar opportunities for Direct Carrier Billing (DCB) for both digital and physical goods, as well as smart home and other consumer devices.
Bango added that it expects expansion into Korea will be a significant growth opportunity for partners who use the Bango Platform to collect payment for physical goods and IoT services, alongside digital content.
Encouraging results from trials in North America
It said, in the IoT business, Bango has seen encouraging results from trials in North America using the Bango Platform to monetize smart home devices, and it sees Korea as a key market for IoT innovation.
Bango’s CEO Ray Anderson said: "Following this year's successful launch of carrier billing for Amazon in Japan, I am excited to establish a Bango presence in South Korea led by a hugely experienced Country Manager.
“The Bango strategy, to power the leaders in physical and digital retail, and in exciting new areas such as smart home, has seen a continued increase in End User Spend and Bango is EBITDA positive on a run-rate basis entering November 2017."