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SmsCoin project, a well known SMS payments provider across Russia and around the world, has been operating in the market for the past five years. It released a free in-app payment library that is expected to help developers accept payments from subscribers worldwide.

Although such programs already exist abroad, SmsCoin project claims that the in-app payments library is the first of its kind in the Russian market. In addition, unlike other programs, it is free of charge and uses open source code based on BSD-license and runs on the Android (News - Alert) OS.

In order to use the library, it has to be integrated into the source program. When this is done, a button is added. On pressing the button, users are directed to the payment dialogue. An outgoing SMS is generated by the library and successful payment is acknowledged with an SMS. Once this is received the service can be activated.

By integrating the library into the application, developers can accept payments from over three billion subscribers in 92 countries worldwide.

In a press release, Dmitry Polyanovsky, CTO, SmsCoin project, said, “Currently, mobile application development is a popular market trend of IT industry. At a certain stage we decided to make a useful contribution and to develop our own application.”

Polyanovsky went on to add that the developers had chosen the mobile payments sector primarily because they were already operating within that sector and wanted to attain higher levels of development.

In addition, he also noted that developers preferred to implement the Freemium monetization model, which allowed users to get a free version of a program or product that paid only when additional services and resources were purchased.

The In-app payment library that they had developed, he said, was “the best possible solution for such apps sales model, or rather of its abilities executed through in-app payments.”

Touted to be one of the most successful SMS- payments providers in Russia and abroad, SmsCoin project also monitors global market tendencies and introduces to its partners ready-to-use products for business optimization and profit growth.In other news, a unique QR code incorporated to the instructions generated by the SmsCoin platform will allow end users of SmsCoin's partners to send SMS quickly without making mistakes.