By Tarmo Virki
(Reuters) - GetJar, the largest independent mobile software store, unveiled on Thursday a virtual payment system, promising developers better returns for apps they sell for Google's Android platform.
Android was used in more than 50 percent of all smartphones sold last quarter, but its payment system is much more complicated than Apple's, meaning many developers struggle to generate cash.
"Our big ambition is to become a major currency throughout Android," said Ilja Laurs, GetJar's founder and chief executive.
Laurs said the new system works similar to airlines loyalty programmes -- consumers downloading apps which are linked to GetJar's systems earn virtual money for their downloads and can use that for buying premium content.
GetJar said that as consumer transactions are not linked to real money, and only developers can change virtual money into cash, it would not need any financial licenses, which has hampered getting mobile payments.
Silicon Valley-based GetJar was a pioneer when it launched in 2005, three years ahead of Apple's online App Store, which now holds the top spot on the market.
Since then dozens of companies, including Nokia, Microsoft, Research in Motion and many telecoms operators, have created stores.
(Reporting By Tarmo Virki)
There are no comments yet