R&D Profiles provides an opportunity to feature the work of companies and help the industry understand services that are available to them from the R&D community.
LaterPay
What services does your company provide?
LaterPay offers an extremely flexible paywall platform that enables publishers of all sizes to easily monetize their digital content and provides several different ways to generate revenues from readers – such as selling single articles, time passes, subscriptions and collecting contributions. Our platform can be used as a hard paywall, like other solutions in the industry. We also offer a user-friendly option that is patented and unique to LaterPay. Our technology enables publishers and creators to access the economy that lives between ads and subscriptions, while being user centric and respectful of users’ time and privacy.
What makes your company unique?
Our “Pay Later” model sets us apart. It allows readers to access content with just one click and promise to pay for it later. We then aggregate their purchases across all publishers and only ask readers to register and pay once their “tab” crosses a $5 threshold. 85%-93% of all users who reach the threshold register and pay, which is by a magnitude higher than traditional methods. By leveraging the “Pay Later” approach, publishers have seen increases in subscriptions and revenues from both loyal and casual readers.
Is your company offering any new products or services since COVID-19? Please describe.
Over the past months, LaterPay has seen an increase in publishers looking to solicit contributions from their readers, which led us to release a product that engages a publisher’s audience not only on their site but also on social media. LaterPay’s Dynamic Contributions Menu (https://info.laterpay.net/contributions/contributions-menu-for-publishers), provides publishers with a low-pressure, low-friction opportunity for their users to demonstrate their trust in you and their appreciation for your work. A simple, streamlined option, the dynamic menu is customizable via a simple form, which then generates a link that you can share via social media and newsletters, or embed in your website (via an iframe). We have been able to offer this solution not just to publishers – but to content creators of all kinds – and have seen a very strong response.
“LaterPay has worked with us to offer our readers the freedom to choose their PULP experience, and the response has been eye-opening. From yearly and monthly subscriptions, to weekly passes, single article purchases and contributions, LaterPay allows us to offer our readers a variety of content consumption options that they are widely receptive to.”