Mobile technology has made many exciting opportunities available to entrepreneurs around the world. More than 75% of American adults own a smartphone, and many of those users are in the market for mobile apps that make their lives easier and more fun. Developers can make money by monetizing free apps with advertising revenue, selling mobile apps for a flat fee or using the "freemium" model, which involves giving away an app and making money by allowing users to make in-app purchases. For developers who choose to sell their apps or offer in-app purchasing, choosing the right payment solution is essential. Keep the following in mind when selecting an online game payment software.
Established Brands vs. Newcomers
Many major brands offer mobile game payment software solutions for developers looking to monetize their products. Working with one of these established brands has several benefits, such as compatibility with a wide range of devices and seamless integration of the online game payment solution with the mobile application. Despite these benefits, working with big brands can also have some drawbacks. One of those drawbacks is that big companies typically do not provide the personalized service offered by smaller firms with fewer clients. If you expect to need a lot of support when you integrate one of these mobile in-game payment software solutions into your business plan, you might want to go with a smaller player in the market.
No matter what payment solution you choose, you must be able to consistently meet the needs of your audience. App users are likely to be annoyed or stop using your app entirely if your payment software interferes with their ability to enjoy the game. When choosing a video game payment software, think ahead. You may only have 500 users now, but you could have millions of users by this time next year. If your audience grows, you won't want to disrupt operations by having to switch from one software to another because the first solution you chose was not appropriate for a game with so many users. Choose a software that can grow with your business so that you can concentrate on generating revenue and developing new apps, not troubleshooting payment glitches.
Security breaches are damaging to a company's reputation and make it difficult for users to trust that you have their best interests in mind. Therefore, security should be one of your top concerns when comparing the many online payment solutions available to app developers. The software you choose should employ industry-standard best practices to prevent unauthorized access to each user's payment information and personal data. Ask each vendor to explain their security policies in detail. Don't be afraid to ask if a vendor has had any breaches; if they have, ask what happened and what steps they took to prevent it from happening again.
If you cannot accept foreign currency, you will drastically reduce the potential number of users in your target market, limiting your company's growth. When shopping for a payment solution, look for software vendors that allow you to accept currencies from multiple countries. Accepting more than one currency gives you access to millions more people, which could be exactly what you need to meet your sales goals. It also helps users avoid currency-exchange fees, making them more likely to buy from you in the future.
One way to increase your revenue is to set up a subscription plan that is billed on a recurring basis. Customers on a subscription plan are typically billed monthly, but you can also bill them weekly or annually. If you decide to use the subscription model, make sure the payment solution you choose is capable of collecting weekly, monthly, or annual payments from users without a lot of manual processing on your part.
Mobile games are one of the most lucrative products in the mobile marketplace, but you need a reliable payment software to collect payments for app downloads, in-game purchases, and subscriptions. When choosing a payment solution, keep these considerations in mind to ensure you get the best solution at the best price.Share