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March 4, 2020Blog Posts

Boku pay volumes jump as coronavirus keeps users home

Reuters

U.S.-based mobile payments provider Boku Inc published bullish results for the first two months of 2020, suggesting it had benefited from a surge in people ordering from home in countries hit by the coronavirus outbreak.

Shares in the firm, one of the few public companies to say openly it has profited from the outbreak, jumped 12% on London’s AIM exchange after it said it was doing better in Asian countries hit hardest by the epidemic.

“The recent growth we have seen in those countries that are most affected has been higher than in those where the virus has had a more limited impact so far,” Chief Executive Officer Jon Prideaux said.

“In general, the more time people spend indoors, the more our platform is utilized.”

The San Francisco-based company, still a tiny player in the payment space in comparison with more established names like Paypal, said total payment volumes rose 30% to $966 million in January and February, slightly more than it had anticipated.

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