By Tim Maytom
Fortumo’s mobile payments system uses carrier billing to enable mobile payments for consumers who don’t have credit cards. They have focused on emerging markets, where smartphone use is increasing exponentially, but credit card use remains low, leaving consumers with little way of paying for in-app purchases through traditional means.
In India, less than 2 per cent of consumers have credit cards, while smartphone adoption has risen from 10 per cent to 22 per cent over the course of 2013. Combined with a young population who are eager to spend disposable income on games and other digital purchases, Fortumo are perfectly placed to provide consumers with a solution.
“India is one of the biggest markets for Windows Phone in terms of downloads but many developers are struggling with in-app monetisation due to low credit card penetration,” said Sanjay Sinha, head of Fortumo India. “We are confident that providing Octro with a carrier billing solution that any phone owner can use will significantly improve their revenue from Windows Phone in India.”
Globally, Fortumo have a …read more
Source:: Mobile App News