The independents app store GetJar announced that its GetJar Gold Virtual Currency program has reached 20 million users since going live seven months ago. The virtual payment system for Android bypasses the need for smartphone users to pay for apps with real money, while at the same time increasing revenue for developers two-to-three times compared to Google Check-out only in-app billing. According to GetJar, this proves that loyalty wins over cash-based programs.
With GetJar Gold Virtual Currency, consumers receive virtual currency called “Gold Coins” every time they download an app from the GetJar App Store. These gold coins can then be spent in all participating apps, bypassing the need for micro-payment systems, registration systems or credit cards.
Developers on the other hand can boost discovery and increase revenues for their apps by integrating the SDK as an in-app purchase mechanism to sell upgrades, items or virtual goods within their apps. Most importantly, developers can accept GetJar Gold Virtual Currency on top of existing payment structures, from a much broader demographic than when they sell their apps on other app stores.