PayThru, a new mobile payment and commerce solutions provider, has launched an independent in-app payment solution to allow consumers to purchase goods, services or upgrades without having to leave a mobile app.
There’s tons of mobile payment providers coming out of the woodwork, but PayThru differs from most in the fact that it’s the only mobile payment platform that is Level 1 PCI DSS compliant, delivering the same standard of security as retail bank and card issuers. Security is a major concern with mobile payments, and PayThru has a definite leg-up on the competition.
The in-app payments solution allows developers to tightly integrate payments of any kind within their apps, without fear of degrading the overall app experience. If a customer wants to pay a game fee, upgrade from a free app to a paid service or access paywalled content from a news service while inside an app, they can do so without having to go through a separate payment site, for example.
“The biggest discussions at GSMA were around how to monetize apps effectively,” said Keith Brown, MD of PayThru. “Applications have the potential to be great marketing or sales tools, but they’re no good if you can’t make revenue from them – either because you have no option to upgrade a free app to a paid service, or because you’re giving away a large percentage of your download revenues to an app store. We were asked to help solve that problem, and so we developed the in-app payment system.”
The company recently published a whitepaper on the benefits of using mobile payments, and has a solid future in the rapidly growing mobile commerce segment. It will definitely be one to watch.