To settle some payables or account for certain needs that are associated with the social networking operations for sites like Hi5, mobile payments are now made possible in order for members to purchase hi5 Coins, hi5’s virtual currency which is redeemable for gifts and premium content on the hi5 site. Countries where Paymo will be made available to hi5 users include the U.S., Canada, France, Hong Kong, Thailand, Russia and Colombia.

The partnership extends hi5’s global reach, by providing the ability to accept direct user payments from millions of consumers around the world who do not have or do not want to use credit cards. Over 75 percent of the online community worldwide does not have a credit card, but 3 billion consumers own a mobile phone. Paymo is currently live in 45 markets around the globe, enabling mobile payments in Europe, North and South America, the Middle East, Africa and Asia.

For consumers - Paymo provides an easy, fast and safe way to pay online. You don’t need a credit card, or a bank account. You don’t need to register. Simply by entering your mobile phone number and replying to a text message you can make a purchase. The charges are deducted from your pre-paid balance or appear on your monthly cell phone bill.

(Source) Press