A new payment service called Boku is making it possible for consumers to subscribe to print magazines via text message. But the technology might be best employed for subscriptions to digital publications in the future.San Francisco-based Boku is teaming up with UK publisher IPC Media to place print ads that ask would-be subscribers to text a code to a number to subscribe to the print publication. The consumer receives a confirmation text with a link directing them to a registration page on a mobile site. The subscription price is then added to the consumer’s phone bill, or deducted from a prepaid balance.Boku admitted that their service might be better received in the US, since UK magazines usually make more from single-copy newsstand sales. There’s also a tradition of direct debit in the UK, and it’s unclear whether US audiences will be receptive to increasing their mobile phone payments because of impulse shopping.However, with major tech retailers like Apple and Amazon holding consumer credit card numbers (and Google making a serious play to join in), a text-messaging conversion funnel for digital subscriptions via one of the trusted online retailers might have a chance. Especially if going through one of the major retailers sidesteps the need for a registration page.Think about it. With more and more audiences consuming news and information on mobile devices, an option to text to subscribe without having to type information into a small mobile-sized screen might seriously improve conversions when consumers hit a paywall on a mobile site or app. It’s the same reason many consumers choose to buy with Amazon’s one-click system.Of course, this is both good and bad news for digital publishers. More conversions and paying customers is obviously good. But Apple and Amazon are known to take up to 30% from every sale. Some publishers, especially the legacy brands used to higher retailer margins, are okay with this, but even The Financial Times has adopted its technology to avoid this surcharge.What do you think? Is texting the way to get consumers to pay by mobile? And does the paid content industry really need a mobile payment strategy?
