Recently I sat with Piyush Shah, Vice President of InMobi SmartPay and his team as they prepared for our most important product launch to date. I asked Piyush to tell me, in as few words as possible, what was different about our payment solution? Why did we believe this was a game changer? Given all the other options in the marketplace, why do we think that this is something developers and mobile content players will embrace? His answer, It's simple. It's intelligent. It's global. Right now this space is just too difficult for the average developer to manage independently. Our system solves many of the challenges developers face when they want to integrate mobile payments across multiple countries, carriers, and systems.
InMobi SmartPay enables app developers, mobile gaming companies, and content providers to tap into a $200 Billion mobile content and virtual goods market. Our system is a one time set-up, single point of integration that gives developers access to multiple countries and operators billing systems. This allows them to expand their business and monetize easily across the globe. The consumer experience is a frictionless, pure mobile checkout system which uses secure, direct to carrier billing. We will expand our system to incorporate more mobile payment methods including credit cards, PayPal, and local mobile wallets by the end of the year.
Today it's expensive and difficult for developers, both in terms of cost and time, to expand their mobile business into multiple countries. This is the reason why we created InMobi SmartPay, our vision is to provide a single point of integration for multiple payment systems globally. Our secure and efficient technology in combination with local InMobi teams on the ground, handle all the regulatory complexity, fraud detection, tax issues, currency conversion, payment settlements, and customer support, globally. This allows developers and digital merchants to focus on building their core business rather than drowning in red tape and making frequent technology updates.
Today's mobile payment options are simple pipelines, which offer very little beyond providing transactional support. InMobi SmartPay is a performance based' payments platform that provides data and insights through an easy to use interface. It helps merchants optimize conversion paths, improve product offerings, and determine proper pricing to maximize ROI. You can also track advertising performance from the impression all the way through to conversion. The result is better ad targeting, higher conversion rates and improved revenues. InMobi SmartPay technology automatically recognizes the country, handset, operator and OS of the consumer and dynamically serves the buying path most likely to convert. With 4.2 million possible combinations, automating this task is a huge benefit to developers.
InMobi SmartPay reaches over 1 Billion consumers in 7 countries including the US, UK, Germany, Indonesia, India, Malaysia, and South Africa. By year end this number will increase to 3 Billion consumers in 30 countries. Using the simple, intelligent platform we've built, developers and digital merchants can easily expand internationally and monetize their user base.
"We're very excited by the response we've received from our beta customers and plan to improve our offering by adding new countries, more payment methods and new merchant segments. Our global payment system when combined with our ad network, can be a real game changer for many of our customers and we look forward to helping them build success businesses." If you're interested in learning more, please contact us at smartpay@inmobi.com
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