Fortumo Launches PayRead the Frictionless Payment Solution for Digital Publishers
The mobile technology company Fortumo is announcing the launch of PayRead. PayRead lets digital publishers identify and charge users through their SIM card, the most widely available digital identity globally.
Fortumo is a digital enablement platform for app stores and digital service providers for user acquisition, monetization and retention. Service providers use Fortumo’s platform to manage the end-to-end customer lifecycle of mobile users on these networks through the company’s bundling, carrier billing, and messaging solutions.
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.
One integration with PayRead gives digital publishers global reach and provides a native flow for all platforms 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 of transaction data into existing business intelligence tools.
“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. 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,,” said Andrea Boetti, Head of PayRead at Fortumo.