Fairket is a mobile app that lets users avail premium app experience by renting the app rather than purchasing it directly from the app store.
Fairket provides a fair platform for developers, 64% of who are below the app poverty line. The app lets the developer integrate the Fairket SDK into the app which makes the app feature on the Fairket platform. Developers can choose the desired rental amount for their apps and can also change the pricing later. Featuring the app on Fairket does not limit exposure as the developer is also free to distribute the app directly via the Play Store.
For a user, upon signing upon in to the Fairket app, the app provides the user with a certain prepaid credit as a promotional activity. The prepaid account needs to have some amount on it for the user to start renting app. The amount loaded on to the account can be used across all apps on the Fairket platform making sure that none of the user’s money is wasted.
The app rental market provides the user with a premium experience of the app on rental. Once the user runs of rental credit, the Fairket app displays a pop up which gives the user an option to either continue with rental, buy the paid app or use the free version of the app.
Muralidharan Ranga, co-founder of Fairket, also added that such a model of app distribution will be the next big wave in developing economies as users do not mind shelling out small amounts over a period of time as compared to paying a lump sum amount for buying the app.
Fairket also is an app discovery platform for new developers as it provides visibility to the developer’s app through the existing user base. Fairket currently has Kids, Gaming and Education as the primary verticals and is looking at adding Utility apps to the list.
Developers can register at the developer console and integrate the SDK with their app. Rental plans and amounts can be decided by the app developer. Fairket’s revenue model is to charge 10% of the revenue made by the developers through Fairket app. But through the early partner benefit, developer can use the platform for free and is liable only to the 30% that Google Play Store charges.
Fairket is currently available on Android Play Store (link) and the startup is working on expanding to iOS in the near future.