BankTech

Sony LIV Partners with Fortumo to Offer Easy Payment Solutions to its Users

MEDICI

Mumbai {Press Release}: Sony LIV, Multi Screen Media’s (MSM) premium digital video entertainment service has associated with the mobile payments company, Fortumo. Fortumo will now power payments for Sony LIV users. On account of this association, more than 580 million subscribers of Airtel, Vodafone, Idea and Aircel can access videos and movies on Sony LIV by charging payments to their mobile operator’s bill.

Fortumo’s carrier billing solution will enable users to choose specific premium videos or movies that they wish to watch and pay for content using their phone – the payment is either deducted from their prepaid SIM card or charged to the phone bill in case of a postpaid contract. With carrier billing, the users do not need to set up any additional accounts or enter private information to make payments.

 Uday Sodhi, EVP and Head -Digital Business, MSM: “Direct Carrier billing helps viewers of Sony LIV to pay easily for their content consumption without a debit or a credit card. Fortumo was identified as the perfect synergistic match for Sony LIV due to its impressive background of powering payments for some of Asia Pacific’s leading digital content players. The tie-up with Fortumo will enable us to take our Video-On-Demand (VoD) service to an even larger audience.”

Sanjay Sinha, Head of Fortumo India said, “India has one of the lowest credit card penetration rates globally while smartphone ownership is growing rapidly. This creates a situation where users can access content online but are not able to pay for it. Fortumo solves the challenge by enabling payments for any phone owner. We are excited to partner with MSM.

According to a forecast by Gfk, India is ranked as the biggest smartphone growth market by value in 2015. Meanwhile, credit cards are available to only 4% and debit cards to 22% of the country’s population. This creates a difficult challenge for online and mobile merchants trying to generate revenue through traditional payment methods in the country. With Fortumo, Sony LIV will simplify the payment process for its large and dedicated user base in the country.

Fortumo powers payments for a number of leading digital content providers in the Asia Pacific region, including Box TVDitto TVTensports and Gaana. Recently, Fortumo’s platform was implemented by the game developer Rovio and mobile operator Idea to collect payments for Rovio’s games in India.

About Sony LIV:

Sony LIV is the first premium Video on demand (VOD) service by Multi Screen Media (MSM), providing multi-screen engagement to users on all devices. Launched in January 2013, it enables users to discover 20 years of rich content from the network channels of Multi Screen Media Pvt. Ltd. It also provides a rich array of movies, strong line-up of events across all sports, shows, music, product reviews. With 20 million app downloads so far, LIV is the first amongst its competition to provide original exclusive premium content. As a true pioneer in its space, Sony LIV launched India’s first-ever original show exclusively for the online platform earlier this year. With #LoveBytes, it became the country’s first digital video-on-demand (VOD) platform to introduce an innovation of this nature.

About Multi Screen Media (MSM):

MSM is a subsidiary of Sony Corporation which owns and operates the Sony Entertainment network of television channels. As a leading television network in India, MSM comprises of Sony Entertainment Television (SET), one of India's leading Hindi general entertainment television channels; MAX, India's premium Hindi movies and special events channel; MAX 2, a second Hindi movie channel showcasing great Indian Cinema; SAB, a family comedy entertainment channel; PIX, the English movie channel; AXN, the leader amongst English Entertainment Channels; AATH, the Bangla movie channel, MIX a refreshing Hindi music channel; SIX, India’s Premier Sports Entertainment Channel; KIX, a youth-centric sports channel focusing on high adrenaline, fast-paced content and LIV - the Digital Entertainment Channel. The Network is in its 21st year in India.

 About Fortumo

Fortumo is a mobile payments company that enables direct carrier billing with more than 350 mobile operators in 90+ countries to over 130,000 merchants. Fortumo's payment products work across a wide range of platforms including desktop devices, smartphones, feature phones, tablets and smart TV-s. These products give consumers a simple, 1-click payment method to charge online purchases to their phone bill. For app stores, digital media companies and game developers, Fortumo provides one integration with 350 mobile operators as well as a single point of contact for settlements, reporting, support and infrastructure upgrades. Founded in 2007, Fortumo has offices in Estonia, San Francisco, Beijing, Delhi, Mumbai, Singapore and London and is backed by Intel Capital and Greycroft Partners. For more information, please visit.

MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI who collaborate to create FinTech insights.

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