Selling big dataįintech apps are a perfect source of valuable, usable financial data pertaining to users’ spending habits, payment frequency, average spending, consumption of particular services, and much more. For example, Mint uses this model for the free version of their service, combining it with other revenue-generation mechanisms for premium services, such as the ongoing monitoring of the user’s credit score. The owner of the service gets paid for each conversion. Users can enjoy your services for free, but will be seeing highly personalized commercial offers from advertisers. If you build a large enough customer base, highly targeted ads and referrals from relevant advertisers can become the core of your fintech monetization strategy. This monetization model can be used in addition to subscriptions or as the primary revenue channel. Payoneer and WorldRemit are good examples of cash exchange services that offer low rates on global money transfers with flexible options for receiving remitted funds. This model is mostly used by apps for mobile payments and payment systems, where fees can apply to either all or specific payment types. After that expires, users are then charged the cost of the chosen subscription at regular intervals (weekly, monthly or yearly). Users generally get a trial period ranging from a few days to a few weeks to explore the features and decide on its relevance to their needs. ![]() The most commonplace and familiar model for anyone who has ever used an online service or mobile app of any sort. Here are a few examples of the most common monetization models used by popular fintech companies today. ![]() It can be the users of the service, third-party services/sellers, or a third party that is the beneficiary of all or some of the transactions originating from your app. In principle, the difference in monetization models lies in who will ultimately be paying you. Later on, once your app is up and running, you can introduce additional features and service options based on different monetization principles, but you have to start with something to begin returning on investments. ![]() If you’ve decided to create a fintech app, the first thing you need to do is choose a primary monetization model.
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