In-app Payment (IAP)
What is In-App Payment?
As more and more users make purchases using mobile devices, numerous alternatives are offered to implement payment acceptance in mobile applications. A user can complete a payment form directly in the specific application.
So, the In-App Payment (IAP) model is currently one of the dominant monetization models among all existing mobile applications in the industry.
In other words, it is a service of buying virtual goods within the application (for example, game currency, new levels, game items, etc.).
- What are the main advantages of In-App payments?
- These payments conduce the number of purchase for the video content and also ensure getting convenient experience for the viewers for consuming content in the application.
- They provide a highly effective user experience as they allow the viewers to make a purchase without leaving the application and also avoid determent of the users from completing the purchase.
- They allow fostering a beneficial effect on the conversion levels.
- The applications can be free and this fact makes it more attractive for people to download and access it before paying for them in the apps store. After this, various in-app offer packages may be offered for getting access to the premium content. So, it is an efficient way for demonstrating your users the whole picture of the application.