GetJar Gold virtual currency is a win-win for both consumers and developers

Third party app vendor GetJar is trying to grab Android users by rewarding them for "shopping" at its store by giving away virtual currency. Android owners who download an app from GetJar can collect the virtual moola to buy premium apps or to make in-app purchases. The beauty of the program is that these virtual dollars can be spent at any Android app store including the Android Market and Amazon's AppStore. The program is backed by advertising dollars and is an attempt to reward customer loyalty. Developers also make out great because all of the virtual currency they receive from these purchases can be exchanged with GetJar for real live cash.

GetJar CEO Ilja Laurs says that the virtual currency helps solve two problems that billing platforms have. One is the low conversion rates because of what customers perceive to be a complicated experience, and the second is the lack of access to global markets. Using virtual currency makes purchasing in-app accessories much easier. It also allows borderless transactions with the use of a single currency that anyone from any country can use.

If this program works for GetJar, we wouldn't be surprised to see others try it as well.

source: IntoMobile