The mobile payments company Fortumo is today announcing that it will start providing carrier billing to India’s largest digital newsstand Readwhere. The partnership will allow Readwhere users across the world to access paid content (e-papers, magazines, books and comics) by charging purchases to their mobile phone bill. Fortumo currently covers 88 countries and more than 350 mobile operators with its carrier billing solution.
“Low ownership of credit cards in emerging markets means digital content merchants face difficulties in converting their audience into paying customers. Carrier billing helps merchants tackle this issue as payments become available to any phone owner. We are excited to be working with Readwhere to help them expand their business beyond India through the use of carrier billing,” said Sanjay Sinha, Head of Fortumo India.
“For Readwhere, which is essentially a platform enabling micro-transactions on digital reading content, carrier billing presents a seamless and fast experience to making payments for digital purchases. Post the Fortumo integration, we will be able to offer this seamless payment experience via mobile for many other countries besides India,” said Manish Dhingra, CEO of Readwhere.
Carrier billing has a significantly bigger payment reach than card-based payments in emerging markets: India and Vietnam for example have a credit card penetration below 2% and in Nigeria 99.3% of all card transactions are conducted on ATMs.
Fortumo’s direct carrier billing technology provides the best checkout experience to end-users based on the platform used (desktop, mobile web, feature phone or smart TV). This means merchants need to only integrate carrier billing once in order to start accepting payments on any platform. Fortumo’s statistics from April 2015 indicate that approximately 80% of paying users in India paid for content on mobile devices.
Fortumo is the only carrier billing provider with a self-service setup and no monthly fees or minimum volume commitments, allowing any developer regardless of size and location to sign up for an account and get started with mobile payments at https://fortumo.com.
Readwhere is an online reading & publishing hub. Read e-paper, magazines, books, comics etc. online & offline. It provides the best content for reading on Web, Mobile and Tablet Devices. It includes popular News Papers, Magazines, Comics, Books & Journals, all within the same application. Read content from some of the premier newspapers of India, most read magazines and popular comics. Newspapers are free to read. The languages covered include English, Hindi, Marathi, Malayalam, Tamil, Telugu, Punjabi, Gujarati and Kannada. Magazines include some of India’s best known Magazine brands, publishing on categories ranging from News, Bollywood, Entertainment, Health, Art and Architecture, Automotive and many more. Our comic book collection will bring back your childhood. Over 700+ titles from famous comic book publishers of India. Several of these comics are out of print and hence can be read only via Readwhere. Our eBook collection covers many interesting Books, which are from well-known publishers and are best-sellers in their own right. This include books on various subjects taught in School, Kids Books, Books on Health and Wellness, Astrology, Novels, Personal and Professional Growth, Management to name a few.