Inventergy Global Inc. (NASDAQ: INVT) continues to sign up commercial partners as it seeks to grow revenue. In the latest case the company has brought on board a partner called ProntoBux, which is the name behind a unique technology that supports direct carrier billing.
For background, ProntoBux is a player in the financial technology space (FinTech). Direct carrier billing technology provides an easy and convenient way for people to pay for digital content. The market for direct carrier billing technology is expected to be worth $24.7 billion by 2019, up from $14.5 billion in 2014.
ProntoBux has picked on Inventergy Global Inc. (NASDAQ: INVT) to be its exclusive partner in monetizing its unique FinTech for direct carrier billing. Besides simplifying digital content purchase, direct carrier billing technology is used to support loyalty programs.
Additional revenue Inventergy Global Inc. (NASDAQ: INVT)
Inventergy’s CEO, Joe Beyers, said that the deal with ProntoBux provides an opportunity for the parties to generate additional revenue. Beyers further said that signing ProntoBux marks their fourth commercial agreement and there will be more to come.
The CEO of ProntoBux, Willard Dean, said that the reason they chose to work with Inventergy in monetizing their unique technology is that they liked its reputation. Dean tried to put a difference between what they are offering and what the competition is offering, saying that theirs avoid long delays in the processing of cash rebates and other direct carrier billing transactions.
Payment model loved by carriers
The reason direct carrier billing payment model is expected to grow rapidly is that it has incentive for carrier companies to naturally support it. For instance, mobile carriers get the opportunity to attract additional revenue when they back the transactions.
Given that direct carrier billing is convenient, content vendors and buyers are naturally inclined to adopt it. Using the kind of technology that Inventergy’s partner ProntoBux provides, people can pay for items through their home television set, game console. They can also make purchases on the go on their tablets and smartphones.
Digital items that can be purchased from direct carrier billing include games, apps, music and ebooks.
How Inventergy fared in 2Q2016
Inventergy Global Inc. (NASDAQ: INVT) generated revenue of $1.4 million in 2Q2016. It also took the opportunity in the quarter to raise additional capital of $1.3 million.