The mobile technology company Fortumo is today announcing the launch of PayRead. PayRead lets digital publishers identify and charge users through their SIM card, the most widely available digital identity globally. PayRead reaches more than 3.1 billion consumers in 100+ countries and gives publishers the tools to get rid of friction in their paywalls.
“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 favourite publication,” said Andrea Boetti, Head of PayRead at Fortumo.
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. “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,” added Andrea Boetti.
One integration with PayRead gives digital publishers global reach and provides a native flow for all platforms (web, mobile web and apps) with the user flow white-labelled 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.
PayRead is built by Fortumo, the mobile technology company working with publishers including Schibsted, Magzter and Readwhere, as well as other leading digital merchants such as Google, Spotify and Viber.