SAN FRANCISCO, April 20, 2015 /PRNewswire/ -- Today, CoinTent is launching the first 1-click micropayments solution enabling publishers to sell individual articles directly from their own sites. The service works either alone or alongside existing subscription offerings and provides a way for publishers to target the majority of their audiences who are not willing to subscribe, but want to read specific articles that are behind paywalls. This new payment method addresses a shift in consumer behavior: Articles are increasingly being consumed on mobile phones, and over 40 percent of publisher traffic is being referred by peers on social networks. Consumers are also accessing content from many different publisher sites; and unlikely to subscribe to most of the sites they visit. These trends make the majority of premium content more conducive to small, individual purchases rather than only higher price-point, recurring subscriptions.
"We're increasingly accessing premium articles and videos on phones and through social feeds and need a way to purchase individual pieces of content at low prices and with 1-click," stated Bradley Ross, CEO and cofounder of CoinTent. "Just as we've seen with music, movies, and game content, people are willing to pay for quality articles that they're interested in reading if the price is right and the purchase experience is simple."
During its beta, CoinTent offerings have gone live on over 25 sites across a number of verticals. Publisher partners using CointTent micropayments alongside subscriptions are seeing 2-5 times as many paying viewers; and are seeing 1-click spend rates of 55 percent.
Available through API or WordPress plugin, the new service can be quickly set up to run alongside existing paywall solutions or as a standalone option. The service charges a payment processing fee based on the size of the transaction.
Investment: The company received a seed round of funding of $1,075,000 from investors including Foundry Group, QueensBridge Venture Partners, Mark Pincus, Donna Dubinsky, Leonard Shustek and Andrew Tisch.
Based in San Francisco, CA, CoinTent is a micropayments company offering 1-click micropayments and paywall solutions for publishers. The company was founded in 2013, by a team who previously pioneered micropayments for millions of Zynga games users.