“This is a great opportunity for content providers to build new revenue streams from subscription services again using Payforit.
“The collapse in customer confidence came about for a variety of reasons, from problems in unsubscribing to not really knowing exactly how much they were going to be billed and to some extent the industry has shot itself in the foot because of this,” he told the conference.
But, backed by Payforit and I-Mode, Mr Griffiths predicted a massive shift from next year. The Premium SMS market in the UK is already worth more than 500m annually and it was predicted that mobile payments would represent around 50% of this market by 2008. During this time, premium content downloads for “off portal” content sales would be migrating over to mobile payments and Mr Griffiths foresaw a return to subscription models incorporating Payforit and I-Mode during this phase.
“The new standards solve all the problems the industry gave itself pre-2005. Both systems can be trusted by the user, they are easy to manage and it is very easy to unsubscribe. It will prove to be a turning point for the industry and it is already starting to happen.”
This news comes less than a month since Dialogue’s announcement that it has gone live with its accredited Payforit solution on the Vodafone and Orange networks.