Paymentwall launches platform for smart TV payments

Source: Paymentwall Inc.

Paymentwall Inc., the all-in-one global payment platform for monetizing digital goods and services, today unveiled PW Smart TV, a new smart TV payment solution designed to help developers monetize their applications, games and other content on smart TV platforms by allowing consumers worldwide to pay using their remote control or secondary devices.

PW Smart TV is the first all-in-one payment option to allow smart TV developers to accept payments from consumers worldwide through several easy checkout methods and more than 120 different payment options, including credit and debit cards, eWallets, bank transfers, prepaid cards, mobile payments and more.

Smart TVs have been brought to market globally over the past 5 years, but the payment options available on the platforms have so far been designed to cater mostly to customers in the United States. For customers in other countries who would like to make payments, the option has largely been unavailable. Paymentwall’s geo-location technology determines where users are paying from and displays localized payment options optimized for their specific region, making PW Smart TV an ideal payment solution for customers worldwide, even in developing nations.

The solution also simplifies the smart TV checkout process to increase conversion rates. Until now, making payments from a remote control has been such a clunky and burdensome task that an increasingly large amount of users have abandoned their shopping carts before seeing the purchase through to completion. PW Smart TV’s intuitive user interface requires only numeric input, allowing users to quickly and effortlessly complete their purchases.

“Many smart TV developers were struggling to make money; they had no way to cover the development costs and content licensing fees,” said Honor Gunday, founder and CEO of Paymentwall. “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 PW Smart TV solution includes several innovative features, such as:

• 120+ payment options: consumers have their choice of more than 120 payment options including credit cards, debit cards, mobile payments, land-line payments, prepaid cards, ATM, terminal transactions, bank transfers, direct bills, and many more.
• Cross-platform functionality: users can pay directly on their television by effortlessly inputting card information with a remote control, or they can complete checkout on a secondary device like a laptop, tablet or smartphone by visiting a unique URL or scanning a QR code.
• 80+ currencies: developers can accept payments in more than 80 currencies, including the US dollar, the euro, the yen, the pound, the Australian Dollar, the Swiss franc, and many more.
• Secure card tokenization: makes one-click checkout a breeze and simplifies recurring billing for streaming content or application subscriptions.
• Easy integration: developers can simply copy and paste the API available through Paymentwall and add a few lines of code to accept payments.

Guney Yasavur, CEO of SPI International, when asked about the product, said, “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.”

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