It’s not a surprise that analysts predict consumers to spend $87 billion on purchases made from mobile devices in 2014. It is said that 80% of the time consumers shop on their devices is through an app. The real question is, how each of us can grab a portion of this revenue generated from applications.
An obvious way to see immediate ROI in digital advertisements or mobile apps is to increase conversions. i.e. turning your lead to a sale. This can be done by prompting your customers to purchase while they are in the app. This is where In-App Purchase comes into play. It can either be to access premium features in a basic version of the app or to explore a new level of a game or to buy virtual coins to unlock features or even to buy something physical from the app. In no time, developers are converting free customers to paying customers. Voilà – This is how the business model behind In-App purchase functions most of the time. But, it can be better.
We , hSenid Mobile take in-app purchase to another level. This would be to allow customers use their prepaid or postpaid mobile account to make the purchase instead of credit cards. By doing so, developers will have the possibility to attract a wider customer base. This is because some people are reluctant to give out credit card information to apps. With hSenid Mobile’sTAP (Telco Application Platform) APIs, developers can integrate a mobile account as a payment option to their Android apps or Web apps. TAP’s In-App Purchase API offers a compelling and convenient experience to developers with a simple process to connect mobile accounts for In-App purchases.
From a Telco’s point of view, having mobile account as a CaaS (Charging as a Service) call is like cherry on top. Subscribers will do more transactions using the mobile account which adds to their mobile bill. This means Telcos will have more customers engaging in mobile payments. With In-App Purchase + Mobile accounts, many customers’ willingness to pay through an app will increase. This will lead to increase in conversions of non paying customers to paying customers.
We have a free webinar in store on In-App Purchasing, which will provide insight and answers to aid your pursuit. Join us for the webinar : In-App Purchase on Android.
