Stream Media Unveils MoVend At Echelon 2010
Echelon 2010 is happening now and it’s going to be a glorious showcase of leading Asian web technology startups over the two-day event.
One of the startups is mobile payment solutions provider Stream Media. Chua Zi Yong, its managing director, announced the launch of their pilot product MoVend, a mobile payment aggregator cum transaction plaftorm, at Echelon 2010. Short for mobile vending, MoVend aggregates various forms of payment that users prefer for specific geographical locations, handles transactions like refunds, re-downloads, digital right management (DRM) and analytics for clients selling virtual goods online.
“With MoVend, our clients can connect directly to their users, distributing directly through social network, peer-to-peer transfer email and SMS marketing,” Zi Yong explains. “For content publishers, we can also quickly provide for them turn-key client or web-based appstores, where they can build their brand and distribution.” He says that payment issues has always been a big problem for virtual goods, and it remains so with the banks or content owners wary about chargebacks and refunds.
He adds that publishers are getting interested in direct billing solutions to help them monetize their content on mobile, and also starting to look at how they can better distribute their apps or extend their branding in appstores that are getting too crowded. “They are looking at various forms of distributing their content on Android, partly also because piracy is quite a big problem for Android Market.” Zi Yong highlights the example of Gameloft, which recently published ten of their games directly on their website, totally bypassing Android Market. “We see this as a sign that we are getting in this game at the right time,” he says.
Stream Media was looking to showcase its solutions to Android developers and content publishers at Echelon 2010, to interest them to work on their first concept appstore. They are also looking for investors to help them push their product overseas, particularly Indonesia and China.
Daniel Goh is the founder and chief editor of Young | Upstarts, as well as an F&B entrepreneur. Daniel has a background in public relations, and is interested in issues in entrepreneurship, small business, marketing, public relations and the online space. He can be reached at daniel [at] youngupstarts [dot] com.