NEW YORK (PRWEB) November 28, 2017
LaterPay – an industry-first patented payment infrastructure designed to offer users immediate, frictionless access to content or services without requiring upfront registration or payment – today announced the launch of AMP Access LaterPay, the first AMP-enabled paywall and subscription platform that can be utilized by all publishers. The platform integrates LaterPay directly into AMP pages, allowing publishers to easily include a paywall and subscription model in their AMP monetization strategy.
"The AMP community has long prioritized paywall and subscription support," said Rudy Galfi, lead product manager on the AMP Project. "It's great to see third-party paywall solutions integrated with AMP, and it’s particularly valuable to see new and innovative approaches to subscription growth brought to the table."
“Prior to AMP Access LaterPay, no out-of-box solution existed for publishers,” said Dave Gehring, former Googler and current entrepreneur and investor. “As such, only publishers with the resources to adapt their in-house paywall and subscription model to the AMP specification had the option to create a revenue stream outside of advertising."
LaterPay’s patented model offers the speed and convenience vital to content monetization. A typical registration and payment process can take upward of three minutes to complete. LaterPay’s model reduces this important first purchasing decision to less than 10 seconds for 78 percent of users. This is achieved by removing the upfront registration and payment process – which derails over 98 percent of all payments – so content providers can start monetizing their assets immediately. LaterPay’s integration with AMP further streamlines the process to three seconds on average.
“Users want access to content as quickly and painlessly as possible,” said Cosmin Ene, founder and CEO at LaterPay. “An arduous and slow registration and payment process has been shown to discourage users and adversely impact revenue.”
When browsing paid content, users are prompted with a number of purchasing options predetermined and customized by the publisher. For instance, publishers can prompt users to purchase a specific article, a time pass or a full subscription. Single purchases and time passes complement the full subscription model by generating incremental revenues while pulling new potential subscribers into the publisher’s ecosystem.
Users make their selection quickly and begin to accumulate a running tab based on the content they consume. Purchased content is aggregated and consumers are only prompted to register and pay once they hit the threshold of $5 or €5. LaterPay streamlines the registration process as well by enabling users to sign up using their Facebook or Google login information rather than creating a new account.
By deferring registration and payment until users reach the threshold, LaterPay has been shown to increase the user’s propensity to pay – 75.5 percent of users register and pay once they reach the threshold. Further, by providing content providers with multiple options for monetization, publishers can more effectively convert users and take advantage of the vast space between ads and subscriptions.
Publishers that are new to AMP can get started with understanding what AMP is and with building an AMP page. Those familiar with AMP can create a LaterPay account, follow the documentation on the AMP Access LaterPay page for integrating the component into pages and follow the Connector documentation on how to configure Connector.
LaterPay is a SaaS payment infrastructure specifically created to enable “on platform” monetization. The patented solution provides a frictionless way to convert users into paying customers without upfront registration or payment. With LaterPay, customers are able to generate incremental revenues that complement subscription and ad models. By deferring registration and payment until users reach a $5 threshold, and by aggregating purchases across websites and devices, LaterPay increases the user’s propensity to pay and reaches unprecedented conversion rates. LaterPay offers a variety of optional revenue models including Time Passes and Subscriptions. Please visit LaterPay.net to learn more.