Mobile ad network InMobi has developed SmartPay, a performance-based global mobile payments solution, for application developers.
SmartPay will go into private beta over the next 60 to 90 days before launching commercially in Q3, 2011.
InMobi claims this new mobile payments service will reach three billion users in 30 countries by the end of the year.
"Our mission is to connect businesses and developers to consumers around the world with innovative, best of breed mobile technology and services. SmartPay will help us with that journey and our evolution as a company to be a key technology enabler within the global mobile ecosystem, especially for the developer community," said Naveen Tewari, CEO of InMobi, in a media release.
InMobi says in a blog post that Smartpay's "technology, in combination with local InMobi teams on the ground, handle all the regulatory complexity, fraud detection, tax issues, currency conversion, payment settlements, and customer support, globally. This allows developers and digital merchants to focus on building their core business rather than drowning in red tape." The company will expand its system to incorporate more mobile payment methods including credit cards, PayPal, and local mobile wallets by the end of the year.
Piyush Shah, Vice President of InMobi SmartPay, "Expanding to new markets is an extremely complex process today, especially for small developer teams sitting in a single geography. InMobi SmartPay exists to simplify the process through a single point of integration and management of all tax, legal, and customer support issues leveraging our in-market expertise."
SmartPay will integrate into InMobi's ad network and reach over one billion consumers in seven countries, including the USA, the UK, Germany, India, Indonesia, South Africa, and Malaysia. It will also offer post click performance optimization. InMobi's global ad network currently runs 32 billion ads on a monthly basis in 200 countries.