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Markets

The technology behind every payment choice

Bango operates in large, structurally growing markets.

Using our virtuous circle business model, Bango enables merchants around the world to maximize their revenues.

We estimate a total addressable market of ~$20B, comprised of $18B in Payments and $1.2B in Marketplace.

Long term industry growth rates across both sides of our business remain strong, with the expansion of mobile commerce and the restriction of advertising data providing tailwinds.

Payment Market

$170B Spent in app stores
$24B Spent using alternative payments
$18B Bango target market

Bango Audiences Market

$80B Spent on app install marketing
$15B Relevant app developer spend
$1.2B Bango target market

Forces impacting our markets:

Twenty years ago, Bango predicted the prevalence of mobile devices being used to access the internet for entertainment and social uses, for commerce and for business. Today this is the reality. An increasing share of activity at home and in the workplace is online, and the pace of growth in mobile commerce shows no sign of slowing down.

Taking a step back from mobile commerce, the global e-commerce market was $4.13 trillion in 2020. This represents c.18% of total retail sales. To put that in context, in 2019 e-commerce spend represented just 13.6% of total retail sales. By 2024, e-commerce is expected to grow further to $6.39 trillion (21.8% of total retail sales) [5].

Within e-commerce, mobile commerce spend was $2.9 trillion in 2020 [1]. This is expected to grow by 22% over the course of 2021 [1], in part, due to the continuing increase in smartphone ownership. In 2020, the number of global smartphone users was 6B, up from 3.7B in 2016. This number is expected to grow further to 7.3B by 2024 [2].

The increase in online commerce means customers have access to more choice than ever before when deciding where to make their purchases. One of the factors affecting online commerce is convenience., Three out of four consumers say they buy from their smartphones because it saves time [1]. This is a benefit that is amplified by the availability of alternative payments. A telco or wallet provider already has your payment information, meaning you can check out with different merchants at the click of a button, with no need to re-enter your payment information time and time again. As customer preference moves away from cash or credit cards and towards the convenience and simplicity of alternative payments, merchants are having to adjust the payment methods they accept in order to keep up.

More than just keeping up, by offering alternative payments, merchants can open-up an otherwise inaccessible customer base – customers without bank accounts or credit cards.

Alternative payment providers are innovative and agile, boosting engagement by targeting customers with relevant offers, adverts and discounts on products and services. Telcos, in particular, differentiate their services by offering rewards of desirable third-party products for customers choosing to charge payments to their phone bills.

The ever-expanding ecosystem of payment methods available and the need to ensure customers can pay via whichever route is most suitable to them means, increasingly, merchants are choosing to partner with a provider who can facilitate and manage these payments for them.

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