September 10, 2015
Global mobile ad network InMobi recently partnered with payment companies Stripe, Alipay and Paytm to enable payments over Miip, a discovery platform that drives e-commerce on mobile apps. In conversation with MediaNama, Supriya Goswami, Head of Marketing for India and South East Asia, said that Stripe will be handling payments in the United States whereas payments in China and India will be handled by Alipay and Paytm respectively.
On August 5, Miip was launched in Bangalore. The company announced partnerships with 15 companies, including companies like Amazon.in, MobiKwik, NestAway, Paytm, Urban Ladder and ShopClues.
Miip shows an animated green monkey on apps and suggests users about products that they can buy. For example, when a user listens to music, the monkey pops up and provides information about relevant merchandise, reviews, concert tickets, music equipment, etc. All this happens on the same platform. The Miip platform collects information from existing apps to make them accessible in one place. Users can also buy products without leaving the native app. InMobi has embedded the Miip Buy button in more than 40,000 mobile apps.
The company is aiming to bring the shopping experience to mobile phones; it is targeting 1 billion mobile users globally and 120 million users in India. Miip is currently at a beta stage. The platform will be available to all customers in the next few months. The platform has also partnered with a few international firms like JustFab, Machine Zone, Rhymeo, Spotify, Vidzy, etc.
Chief Product Officer at InMobi Piyush Shah’s tweet:
The main competitors of InMobi—as advertising networks which let users make e-commerce transactions right now—are Google and Facebook who have added buy buttons for ads on the services provided by them.
It is interesting to see companies showing interest in integrating buy buttons to their core services to increase their engagement with customers. More content and commerce would increase the time spent by users on their sites.
A commerce revolution is taking place at the moment. People have adopted e-commerce and the e-commerce firms are witnessing strong growth. M-commerce, although not as popular as e-commerce, is also gaining steam. D-commerce (or discovery commerce) might be the next big thing in India. InMobi said that research shows discovery-based commerce will surpass intent-based discovery by 2018, contributing to over 50% of mobile transactions in the next two years.