Singapore-based start-up, Stream Media just announced its partnership with payment service provider MOL AccessPortal. Stream Media is the company behind MoVend, a mobile in-app billing platform.
With this partnership Movend now offers MOLPoints, MOL’s virtual currency, as a mobile payment option for users to purchase apps on Android platform. See the flow chart and video below for a detailed explanation.
The partnership is huge for Stream Media. You may remember MOL as the company that acquired Friendster, whose patents were eventually sold to Facebook. MOL is also the company that manages Zynga Game Cards and Facebook Credits in Asia, handling more than 60 million transactions worth over US$300 million from users annually.
“We are excited with the partnership to allow Android users to buy games and apps using MOLPoints,” said Chua Zi Yong, CEO at Stream Media. “We are aware of the frustration that most users in Asia face when they want to buy apps but do not have credit cards to do so. And as such, this arrangement with MOL will open up the market for users, and for developers to finally able to build a profitable business.”
Developers can start adopting MOLPoints payments today by signing up for their accounts at Movend.com, with a 70:30 developer to Movend revenue cut. Currently developers can utilize sales methods like try-and-buy, feature upgrades, virtual goods, subscriptions, and donations. Feel free to contact the folks at Stream Media at sales[at]movend.com for more details.
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
