Cellum leverages mobile payment success to challenge paypal

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Cellum, a developer of mobile payment applications, laid down the gauntlet, announcing that they have achieved a game changing 84% conversion rate- far higher than incumbent solutions.

The company now turns its eyes towards the US, offering a new all in one Cellummobile payment solution, combining the best of the industry’s emerging technologies. The key to its success lies unexpectedly in the implementation of a much maligned tool – QR codes.

While m-commerce is booming, many apps are still experiencing poor conversion rates. On average, users abandon their mobile shopping carts more than two-thirds of the time. App developers cannot seem to find the solution to turn online window shopping into a sale.

Cellum provides a solution that they say makes payments easier and more secure than ever before. Holding a significant market share of Hungary’s mobile payments, Cellum’s flagship product, the MasterCard Mobile app, has been downloaded over 140,000 times.

To date, with over 42 million transactions totalling over $150 million, Cellum’s secure technology has resulted in a zero percent fraud rate.

“It is a well-known fact, that all too often users are abandoning the payment process before completing the purchase. Our solution facilitates increased sales, with over 1 million transactions a month. Our white-label solution allows for a notably higher conversion rate than the average mobile payment platform,” states Dr. János Kóka, CEO of Cellum. “We believe that by entering the US market, we will provide the local users with comprehensive payment opportunities, thus enhancing their overall shopping experience.”

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