Mobile payments company Bango plc (LON:BGO) has launched Bango Marketplace, a new product that increases user numbers and revenues for app developers and opens new revenue streams for mobile operators.
The mobile commerce group said on Tuesday that based on initial revenue from early adopters, it expects Bango Marketplace to contribute materially to group revenues in 2019, alongside continued growth in its payment and Audiens customer data platform (CDP) businesses.
Bango said that by using Bango Marketplace, app developers can quickly and easily focus their marketing on higher value customer segments, across a wide range of markets. This focus increases the effectiveness of marketing spend significantly.
Bango uses technology from its recently acquired Audiens customer payment platform to create segments and to feed them to Facebook, Google, Oath, The Trade Desk and other places where they can be used by app developer marketing teams, the company said.
App developers and other merchants enter the Bango Marketplace online, select the data segments they wish to use and activate their marketing campaigns. Online campaigns can be started as quickly as the same day, the company said.
Since its pre-launch in November 2018, Bango said the marketplace had started to generate initial revenues from new early adopter customers.
To drive adoption and sales Bango has deployed a team to focus on app developer success with Bango Marketplace operating from its Cambridge UK, San Jose USA, Tokyo, and Seoul offices.
"The Bango Marketplace is a unique place where app developers and merchants can use customer segments to more than double the effectiveness of their marketing spend. It enables mobile operators to safely and securely monetize their payment data in ways that were previously impossible,” Bango’s CEO Ray Anderson said in a statement.
“Mobile operators can not only earn additional revenues my monetizing knowledge about their users, but they will see additional app store sales, boosting their end user spend. This is an exciting phase in the rapid growth of Bango, adding a huge range of new customers for the Bango platform, with an opportunity for significant revenue growth without materially increasing operating costs,” he added.