GetJar Getting Into The Apps Payment Business

Getjar, one of the largest third party app markets in the world, is spreading out. Now in addition to a huge platform for app developers to get discovered, GetJar is entering into the payments business.

Getjar is unveiling a new virtual payment system today, promising developers better returns for their in app payments in Android apps. Getjar has a huge core developer community that already uses their app store for distribution of their popular Android titles.

While Android has over 50% of the smartphone market, their current app payment system for developers is more cumbersome for developers. The end result is many dual OS developers are finding it easier to make money with their apps on the iOS platform.

More after the break

“Our big ambition is to become a major currency throughout Android,” said Ilja Laurs, GetJar’s founder and chief executive.

Like TapJoy’s new game changing monetization program, Getjars program has ways for app users and game players to earn reward points for downloading and installing apps. Users can use their earned virtual currency for premium content. The developer can than redeem the virtual cash for actual money.

Since developers are the only ones that can convert the virtual currency into cash, Getjar doesn’t need any kind of regulatory approval to start this payment business.

As apps get more and more popular many developers are looking to as many ways as possible to monetize their applications.

source: Reuters