Independent mobile ad network, InMobi SmartPay, has launched the first global mobile payments solution combined with an ad network, an official has announced.
InMobi Chief Executive Officer, Naveen Tewari, said the new solution already reached over one billion consumers in seven countries, including South Africa, the US, UK, Germany, India, Indonesia and Malaysia, with huge growth plans to expand to over three billion consumers in 30 countries by the end of 2011.
The new solution, dubbed “InMobi SmartPay” is a performance based global mobile payments solution which is fast dominating the world.
Tewari said that SmartPay would enable app developers, game companies, and content providers in the US $200bn worth of mobile content and virtual goods space. This could be used to expand their business and monetize their users quickly and easily into new markets by providing a one-time, no-cost, single point of integration across multiple countries, Africa included.
The solution offers consumers a seamless, pure mobile checkout experience using secure, direct to carrier billing to start, but expanding to all forms of mobile payment methods including credit cards, PayPal, and local mobile wallets by the end of the year.
“Our mission is to connect businesses and developers to consumers around the world with innovative, best of breed mobile technology and services.
“InMobi SmartPay will help us with that journey and our evolution as a company to be a key technology enabler within the global mobile ecosystem, especially for the developer community,” said Tewari.
He said there were major competitive advantages of the service, which among them include the ability to monetize three billion mobile consumers in 30 countries easily through mobile web and Android in-app billing by the end of the year∙
Speaking at the same event, InMobi SmartPay Vice President, Piyush Shah, said the expansion to new markets was an extremely complex process suitable for small developer teams sitting in a single geography.
“InMobi SmartPay exists to simplify the process through a single point of integration and management of all tax, legal, and customer support issues leveraging our in-market expertise.
“Even more importantly, we are an intelligent solution providing consumers with a low friction, secure purchase flow, and data-driven insights to help maximize conversion,” said Shah.
The launch of InMobi SmartPay combines with massive global ad network of nearly 32 billion ads monthly in 200 countries with a mobile payments solution, enhancing its core competitive advantage for clients by integrating actual purchasing behavior into its real-time ad-serving feedback loop.
By Tintswalo Baloyi