InMobi, one of the world’s largest independent mobile ad network has launched a new mobile payment system for app developers called “SmartPay”.

Through this system, InMobi will be providing app developers a way to monetize their mobile content and virtual goods in their mobile apps.

How is it different from other payment solutions?

According to InMobi:

  • Developers will be able to cater to 3 billion mobile consumers in 30 countries by monetizing their app through mobile web and Android in-app billing.
  • Get access to custom analytics tools through which developers can track the performance of their transactions and thereby get insights into what will help them improve the conversions in every country.
  • Integration with the InMobi ad network which will provide post click performance optimization from ad impression to purchase.
  • A secure and efficient technology which will handle all regulatory fraud, tax, currency, and settlements across all countries.
  • And finally, a one-time, zero cost, single place integration across multiple countries to offer a seamless checkout experience to the users.

Kickstarting with operating billing, InMobi stated they will be offering credit cards, PayPal, local mobile wallets and all other forms of mobile payment methods by the end of this year.

Naveen Tewari, CEO of InMobi said:

“Our mission is to connect businesses and developers to consumers around the world with innovative, best of breed mobile technology and services. InMobi SmartPay™ will help us with that journey and our evolution as a company to be a key technology enabler within the global mobile ecosystem, especially for the developer community.”

This service is currently in private beta and will be commercially available in Q3 2011 in India and 6 other countries including the US, UK, Germany, Indonesia, South Africa, and Malaysia with plans to launch it in 30 countries by the end of this year.