How do digital goods partners benefit from the eXtensible Open Network?
In this three-part series, we will discuss the different benefits of the eXtensible Open Network, the technology that powers XONIO Mobile to offer mobile consumers a fast and convenient way to shop for digital goods and to connect to the blockchain all in one mobile application.
1. Instant reach and a new consumer market
Among the platform components of the eXtensible Open Network is the XON Store, a blockchain-based digital goods store embedded in the XONIO Mobile. It serves as an additional storefront for digital goods partners who want to showcase their catalog for mobile consumers looking for deals on different verticals such as eSports, entertainment, games, and more.
E-commerce is growing at a very fast pace in the Philippines, with 65% of the population online using mobile devices as a remote control for commerce and entertainment. Despite barriers to adoption due to low credit card penetration, user behavior skews towards a fast rising pace, leaving more mobile consumers doing more and more transactions on mobile.
Now, imagine if there’s a mobile storefront that addresses the barrier placed by the lack of financial inclusion in the country. By using telco prepaid airtime, which virtually every mobile consumer has, the XON Store instantly provides digital goods partners a fresh new way to tap a new market for their products.
2. Higher margins, faster payout
Digital goods partners get maximum revenue from goods sold through the eXtensible Open Network. When digital goods partners sell items at the XON Store, they benefit from higher profit margins due to lesser transaction fees charged by the platform. This wider margin allows digital goods partners to improve on sales by offering their products at more competitive rates, or by pocketing the most value out of every sale of goods.
Afterwards, digital goods partners also enjoy seamless payouts through the eXtensible Open Network. Processing time is reduced as fraud and consumer payment inconsistencies are not allowed by the platform.
3. Full transparency
One of the primary benefits of having a blockchain-based digital goods store for digital goods partners would be full transparency. In a digital goods store environment, that means digital goods partners are also protected from cases of fraud (which would dramatically reduce the negative customer experience they can normally expect from regular marketplaces). At the same time, digital goods partners are able to audit sales with full transparency and improved efficiency. Every transaction are immutable and verifiable across all parties: the platform, mobile consumers, telcos, and the digital goods partners.
Aside from benefitting digital goods partners, the eXtensible Open Network also offers benefits to telcos and mobile consumers. Visit the rest of the three-part Benefits of the eXtensible Open Network series to learn more about this amazing technology behind XONIO Mobile.
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