Money is the most important thing for us in lieu of services, things and commodities. Humans started exchanging of goods via barter exchange, however the invention of money in form of coins, precious stones, swards and other precious things. However it was paper money which really helped humans to develop their economies. Now once again, the economy of world is going through changes. Invention of different sort of money including plastic money (debit and credit cards), bitcoin (digital method invented by Satoshi Nakamoto) money and others is changing the way. Another sort of money which is in use to pay the dues is wireless money offer by Wireless Carriers to their clients.
Solution for App Developers:
App Developers are looking for convenient way to get paid for their content, apps and in-app purchases. Further the App Developers also looking for payment solutions for people who haven’t access to debit and credit cards.
Carrier billing allows people from any part of world to purchase whatever they like and want to read and use according to their needs. People can add the cost of content or service to their carrier billing system which is either pre paid or post paid. The concept of adding the cost of services or content directly to their mobile billings is getting attention as the people having access to mobile (feature or smart) can purchase items, content or services and/or can gift to others by referring them.
The concept is similar like using the on demand television programs, movies, shows or any other audio or video content by adding the price to your monthly cable billing system.
Earlier the users of simple phones with some basic features were the first one to use the carrier billing system, i.e. purchasing ring tones, wallpapers, multimedia content and others. The system was working fine for mobile devices of earlier stages, however the updated carrier billing system is suitable for Smartphone mobile age.
Still the high charges by mobile companies are big hurdle for app developers as they lose a big portion of their earnings for paying charges to wireless carriers.
Wireless Carriers can earn huge margins in potential regions like India where millions of people are transferring from simple phone services to smart phone services. According to “Business Insider”, carrier billings accounted for $3 billion in mobile transactions.