Brian Hickey GetJar Developer Relations spokesman announced “Virtual Currency for Android” in the latest developers newsletter. Virtual Currency is an expansion of the GetJar Gold Program (free premium apps) that will reward consumer loyalty and improve monetization across the Android ecosystem explained Hickey.
Consumers can earn GetJar Gold virtual currency by downloading supported Android apps, and can spend the virtual currency on Premium apps and in-app purchases. GetJar Gold claims that the virtual currency can be used with any Android apps from any app store, including GetJar, Android Market and Amazon.
Developers in turn can use the GetJar SDK to add support for GetJar Gold virtual currency to their Android apps. The SDK will allow them to accept the virtual currency for in-app transactions as well as upgrades from free to premium versions of their app. The virtual currency collected by app developers can then be exchanged with GetJar for real dollars.
“The virtual nature of the currency and its linking to the global advertising spend solve two major problems that the traditional billing platforms have struggled with – low conversions due to the complicated user experience and the lack of access to global markets,” said GetJarCEO Ilja Laurs. “Our early results are showing significant increases in both revenue and conversion, and we expect developers will experience an increase of up to 10X for participating.”
My understanding is that the virtual currency can only be used for in-app purchases, when using an app store other than GetJar. I have reached out to Brian Hickey for a clarification. Brian responded that some one from the GetJar Developer team would get back to me and I will update this post with their response when I receive it.
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