Leading Mobile Payments Player Buck Powers into 2012 with 368% Increase in Revenues Source
Buck cites record growth in Q1 and continues to fuel momentum with new SVP of Sales appointment, new Buck Wallet and strength of UDID technology
Buck, the best way to buy and sell goods and services on your mobile phone, continues its momentum citing record Q1 growth as it powers into 2012, setting Buck on track to become a major player in the mobile payments industry.
Record Year on Year Growth and Customer Momentum
2012 has started off with exceptional growth for Buck, with the mobile payments company reporting over 368% growth in transactional revenue and a significant uptake in new marquee customers such as Glamour Magazine, with 20 merchants again using Buck in the May issue to sell fashion items with a single click. Buck also saw an upsurge in usage of its m-commerce platform by new and existing merchants, reporting an increase of 282% in gross merchandising volume, resulting in a 297% upswing in transactions.
"From the beginning, we saw the flexibility to get our non-profit clients up and running with Buck's single-click checkout for high volume mobile transactions in a matter of minutes. With Buck, our clients received on average an open rate of 90%, very high conversion rates of over 78% and mobile donations of over $200.00--far exceeding the industry average for online and email donations," said Greg Lambrecht, President of Text-A-Day, a mobile technology company that serves the non-profit community. "The power of Buck mobile payments is outstanding with one school in Northern California being able to raise $36K in a few short hours."
Buck further allows Text-A-Day to receive donations and payments instantly while allowing it to create new streams of revenue with selling merchandise using a single mobile payment method. According to Text-A-Day, non-profits also find Buck's real-time backend reporting invaluable as it seamlessly works with their own systems to satisfy PCI compliance, IRS requirements, accounting, analytics purposes or simply collecting information to send thank you notes to donors.
Buck UDID Technology and New Buck Wallet
Buck's ease of use and simplicity is one of the many factors contributing to its recent growth. The Buck mobile express checkout enables single-click mobile credit card purchases on any device or network, for any good or service, with no account, username or password required. Users of the service simply pay once with Buck and their mobile device becomes their digital wallet.
Buck's strength in the market is bolstered by offering consumers their own Buck Wallet which is supported by Buck's proprietary UDID technology tied to its mobile payments. Created over five years ago, Buck's UDID technology is one of the strongest in the industry as it is tagged to the device itself and uses over 30 unique attributes to confirm the identity of the device, while the current industry standard rests at using merely five attributes.
Key features of the Buck Wallet include:
- Consumer profiles: Buck Wallet safely stores multiple single-click Buck enabled payment methods as well as customer preferences, including multiple shipping and billing addresses
- Mobile Receipts: Buck Wallet stores a complete list of customer receipts and allows the customer the option of having those receipts emailed
- Customer Alerts: Buck Wallet alerts customers of expired cards and merchant messages
"It is now evidently clear that mobile commerce is gaining rapid adoption by users across all market segments," said Andy Kleitsch, CEO and Founder of Buck. "At Buck, we enable merchants to provide easy and secure on-the-go purchasing for their customers. The simplicity of our innovative technology helps merchants and consumers alike navigate through the complexity of mobile transactions, paving the way for rapid mobile commerce adoption."
Buck Expands With Hire of SVP of Global Sales
In addition, Buck announces the expansion of its senior management team with the appointment of Anthony Lanham to the position of SVP of Global Sales and Business Development. Based out of Buck's Seattle headquarters, Anthony will be responsible for driving the company's worldwide sales. Anthony brings a rich heritage of leveraging global relationships to successfully build and scale growth stage companies.
Prior to Buck, Anthony was Director and VP of Sales at Receivable Management Services, an iQor Company, where he built lucrative client relationships as well as managed sales on a global level, increasing company revenues by 1500%.
"Anthony is an ideal addition to the Buck team, bringing onboard an impressive sales track record and a wealth of experience that will support us in aggressively growing our sales operations among merchants and consumers, nationally and worldwide," said Andy Kleitsch, CEO and Founder of Buck.
"I was attracted to Buck due to its simple, elegant answers for merchants and consumers, providing an easy solution for paying on mobile devices," said Anthony Lanham, SVP of Global Sales at Buck. "Not only does Buck provide merchants with a simple, high conversion mobile checkout path, but consumers benefit from a single-click purchase experience as well. I look forward to helping the company grow and become the most preferred and recognized mobile payments provider in the industry."