Subscribing to publications with carrier billing made possible
|Richard Harris in Monetize Tuesday, January 22, 2019|
With ad revenue declining in the media industry, publishers are looking to grow their revenue from readers. However, if we look at the sign-up and payments process for most online newspapers today, it's terrible - users need to sign up for a separate account, fill in a bunch of personal data and provide their credit card details. In a high-volume business, this leads to low conversion and lost revenue.
The mobile technology company Fortumo has launched PayRead which lets digital publishers identify and charge users through their SIM card, the most widely available digital identity globally.
PayRead is integrated with 350 mobile operators whose users can access digital publications through their mobile account identity. Should the reader wish to pay for digital content, the same account is used for recurring payments, contributions, enabling metered access and purchasing individual articles.
Readers do not have to log into any separate accounts, download a payment app or share their personal details: the registration and payment are instead completed through a PIN verification sent by the mobile operator. “Our existing digital publishing partners see higher conversion with PayRead because the solution is more user-friendly, simpler and safer compared to card-based paywalls,” added Andrea Boetti.
One integration with PayRead gives digital publishers global reach and provides a native flow for all platforms (web, mobile web, and apps) with the user flow white-labeled to increase trust and match the publisher’s brand. PayRead also gives publishers access to its Messaging API to communicate with users for transactional and marketing purposes as well as its Reporting API for integrating transaction data into existing business intelligence tools.
Andrea Boetti, Head of PayRead at Fortumo told ADM, “Digital newspaper income is shifting from advertising to consumer revenue and publishers are looking for ways to simplify the user acquisition and payment process. Card-based paywalls create friction because users need to go through several steps and enter personal data to access premium content. PayRead provides a seamless approach to authentication and charging for content, making it easier for readers to support their favorite publication”.