How mobile app monetization challenges conventional payment methods
Mobile apps are no longer merely extensions of visual identity efforts that serve to build brands and maintain them in the public eye. These apps are important potential sources of revenue for the companies that publish them. As mobile payments continue to proliferate, it is increasingly probable that mobile payments will rival conventional payment methods such as credit cards and PayPal. The in-app purchase revenue model continues to gain traction as a solid method of revenue generation for many mobile application developers.
The concept of an in-app purchase is quite simple. It is one type of mobile app monetization strategy that involves generating revenue from the sale of physical or virtual goods from within the app itself. There are many types of in-app purchases, including consumer goods such as clothes and accessories. Game apps commonly offer virtual items such as extra lives or in-game currency.
Various types of in-app purchasing
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