Boku boosted by lockdown activity

The price of shares in AIM-listed mobile payments specialist Boku (LON:BOKU) rose by 1.75% to 87p (as of 12:10 BST) after the firm reported a 35% increase in total payment volumes for the first five months of 2020. Management said that the business had benefited with countries under lockdown and monthly active users during May were up by 36% relative to the comparative month in 2019.

CEO Jon Prideaux commented: “Boku has traded strongly through the period of lockdown with existing merchants benefiting from increased demand for home entertainment as more people spend time at home, leading to record levels of new users making their first Boku Payment. Operationally, Boku has been able to build supply and activate new customers across both Identity and Payments in record numbers.

“We look forward to providing further updates at the half year stage and remain confident of meeting market expectations for the current year“.