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PayPal gets new rival in offline payments race

PayPal, the online payments company owned by eBay Inc, just got a new rival in the race to develop a mobile payment service that can be used in physical stores.

Boku Inc, a big online mobile payments company backed by venture capital firms including Andreessen Horowitz and Benchmark Capital, unveiled a new service on Thursday that lets people pay with any mobile phone anywhere credit cards are accepted.

Boku already provides carrier billing through about 230 wireless carriers, including AT&T Inc, Vodafone Group Plc and Verizon Communications Inc in more than 60 countries. This service lets people pay with their mobile number and get the transactions charged to their monthly phone bill.
 

(Source: CNBC)