Mobile First Moves into Virtual Goods Payments

Seven year-old Mobile First is the latest payments company to enter the social gaming market. It is launching a mobile payments service today that competes directly against a range of other mobile payment providers, including Boku and Zong.

Like its rivals, the company is letting developers install a simple widget that lets users can choose a set amount of virtual currency to purchase with their cell phone. Users provide their cell, number, Mobile First sends a text message to their phone containing a confirmation PIN number, then users enter that number in the widget to complete the purchase. See the screenshots below, from the Facebook game Vegas Slots.

And, like many of its rivals, the company also provides customer support, language translation, secure payment processing and real-time reporting

Mobile First is especially interesting, however, because it is an established company. It offers a variety of premium text messaging services in 40 countries around the world, including the US, countries in Europe, Southeast Asia, the Middle East and Africa.

Payment companies also typically pay significant transaction fees to the mobile carriers in countries where they are active. Mobile First says it is offering attractive payouts to developers as well.