SmartWorld Connect has embedded a payment portal into the App Store and each App where transactions can occur. This has created a marketplace where local products and services can be traded. The revenue generated through this marketplace is primarily to support the local businesses and is expected to contribute over £660,000 for businesses in a town of 150,000, but micropayments also go to the community sponsor (local authority, telecoms provider or regional business) and the App developer.
In a town of 150,000 people we expect the sponsor to receive around £20,000 in micropayments each year and a similar amount would be shared between the App developers.
If the App developed in one region is used in another, the App Developer would gain the revenue share from that region as well, so a roll-out of the App to more than 10 towns, becomes a significant income generator.
SmartWorld Connect 