Todaq Micro has announced the public beta launch of two new offerings: a micropayments solution and an artificial intelligence (AI) sales agent.
More than 100 companies have begun adding these tools to their websites, Todaq Micro said in a Tuesday (April 2) press release.
The company’s micropayments solution, TAPP (Tap-and-Privately-Pay), is a low-code software payment product that enables instant payments for content or services without requiring the customer to sign up for a subscription or log in to an account, according to the release.
TAPP micropayments are designed to give providers of digital content and services a convenient and cost-effective way to serve customers who are willing to pay but don’t want to subscribe or log in, the release said.
“This was previously impossible, due largely to the significant cost of digital payment processing,” Hassan Khan, CEO of Todaq, said in the release. “Historically, a $0.25 payment could easily cost $0.35 to process, rendering a segment of potential customers uneconomical to serve.”
Todaq’s other tool, TAPP Conversational Checkout, features AI sales concierges that are designed to help sell movies, music, healthcare services or educational content, per the release.
The AI sales agents talk or text with customers in their language, search for what they ask for, display the content or service within the chat, and allow the customer to receive it by paying via TAPP, the release said.
Together, Todaq’s solutions are designed to make any content or service available for micropayments, per the release. They can facilitate video previews, payback buttons for rewards and ads, instant supply chain payments and other new customer experiences.
One company that is implementing these solutions is AI/ML Innovations, which offers AI health diagnostics for high blood pressure and cancer screening.
“By incorporating TAPP into our remote healthcare diagnostics monitoring, it becomes economically feasible for patients to access care consistently by paying as they go,” Paul Duffy, CEO of AI/ML Innovations, said in the release.
Micropayments provide an alternative to subscription-based revenue models that are being threatened by inflation and supply chain disruption, Clark Dumas, head of merchant success at Trustly, wrote in the PYMNTS eBook, “2023: The Year of Strategic Shifts in Business.”
“More consumers are doing away with subscriptions to make room for more necessary expenses,” Dumas wrote. “Modern consumers could be empowered to control their media consumption and restore their purchasing power with micropayments.”
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