Quepasa Corporation expands virtual currency monetisation with Offers

Virtual currency through Offers on mobile

Quepasa Corporation, owner of the North American myYearbook and Latin American Quepasa social discovery platforms, is expanding myYearbook’s mobile virtual currency monetisation with the launch of Offers on mobile (view press release). The company’s platforms help people discover and meet new people through social games and apps which are monetised through advertising and virtual currency. Offers on mobile enables myYearbook mobile users to earn virtual currency, or Credits, by completing various Offers such as downloading an app or watching a video. Credits can then be spent on various virtual items within the app.

Mobile daily usage on iPhone and Android experienced double-digit percentage growth since the start of the year, recently surpassing 60% of all daily myYearbook visitors logging in on mobile,” said Geoff Cook, COO at QuePasa Corporation. “While starting from a very small base, we are seeing encouraging signs of virtual currency monetisation on the mobile platforms. In fact since the launch of Credits on iPhone and Android in Q1, average daily revenue from purchased Credits has increased more than 300% over January, when Credits were available for purchases only on the web. Mobile users have been four to five times more likely to buy Credits than users on the web, primarily due to reduced payment friction.”

The company is currently rebranding as MeetMe.

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