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Boku boosted as lockdown drives demand for payments technology

The group reported a 20% jump in new users over the first five months of 2020, with new deployments for merchants including Netflix, Google, Sony, Spotify and Tencent

Boku Inc - Boku boosted as lockdown drives demand for payments technology

Boku Inc (LON:BOKU) has reported strong trading in the first five months of its current financial year as coronavirus lockdown measures boosted demand for its payments technology.

The AIM-listed firm reported that in the five months to May 31 2020, its total payment volumes rose 35% to US$2.6bn, while the number of payment monthly active users (MAUs) were 36% higher at 20mln.

The number of new users also jumped by 20% to 9.2mln, while new payment launches were also running at record levels with new deployments in Asia, Europe, the Middle East and the Americas for merchants including Netflix, Google, Sony, Spotify and Tencent.

Boku also said its identity division had made “good progress in building out an international solution”, with the number of supply connections “significantly expanded” through the addition of direct and indirect connections to over 200 carriers in 51 countries.

"Boku has traded strongly through the period of lockdown with existing merchants benefiting from increased demand for home entertainment as more people spend time at home, leading to record levels of new users making their first Boku Payment”, said the company’s chief executive Jon Prideaux.

The CEO added that the company remained “confident of meeting market expectations for the current year”.

Shares in Boku were 1.8% higher at 87p in early trading on Wednesday.

Quick facts: Boku Inc

Price: 122.5 GBX

Market: AIM
Market Cap: £351.91 m

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