Paymentwall, a global payment platform, assembles the software necessary to monetize digital goods and services. But now the company is hoping to fuel the growth of smart TVs by making it easier for people to buy things using them. It recently unveiled PW Smart TV, a payment solution that developers can plug into their applications that run on smart TVs. Applications can include games, movies, and other digital content on smart TVs connected to the Internet. As per a research by NPD, it is predicted that by next year, there will be more than 200 million Internet-enabled TVs in the U.S.
With the new solution for smart TVs, consumers can browse through applications using a remote control or secondary devices such as smartphones. PW Smart TV enables the developers to accept payments from consumers worldwide through multiple checkout methods including more than 120 different payment options like credit and debit cards, eWallets, bank transfers, prepaid cards, mobile payments, etc.
Honor Gunday, founder and CEO of Paymentwall, said in an official press release: “Many smart TV developers were struggling to make money; they had no way to cover the development costs and content licensing fees. Paymentwall is giving developers and content providers a simple, effective way to collect payments for smart TV content directly on the device itself, while providing users throughout the world with a plethora of global and localized payment options to choose from.”
Paymentwall’s software figures out the location of the payer and displays local payment options that work in the specific region. The company simplifies the smart TV checkout process to increase conversion rates. Paymentwall’s solution has cross-platform functionality allowing inputs via remote controls or other devices. It allows developers to accept payments in more than 80 currencies. It also supports secure card tokens, making one-click checkout easier.
Guney Yasavur, CEO of SPI International, said in the press release: “I’m extremely excited about the launch of this smart TV payments product. One of the biggest problems I’ve noticed as more and more smart TV’s become available in the market globally is that the content offered on the smart TV isn’t actually accessible for many global customers due to a lack of payment solution tailored for smart TV and remote control. With Paymentwall's new user interface, our subscribers can make their payments much easier and more securely.”
Paymentwall has processed payments for more than 150 million unique users across more than 50,000 merchants. Its rivals include Braintree, Apple Pay, Stripe, Boku, and Adyen. Paymentwall started as an alternative offer-wall provider when Facebook gaming was thriving. Paymentwall provides a technology platform that enables developers to not only accept credit cards and mobile payments but other solutions like prepaid cards, digital currencies and eWallets as well.