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Telegram has launched a new internal currency dubbed Telegram Stars to allow users pay for digital goods and services in mini-apps and bots.

Pavel Durov, CEO of Telegram, unveiled the new payments system on Thursday.

According to details also shared via the official Telegram blog, the new in-app service follows an update to the messaging platform’s bot platform to introduce a mechanism which users can pay for digital products.

Users can acquire Telegram Stars via in-app purchases on Apple and Google and use these on digital purchases across the platform. In-app bot payments will be available for nearly every digital product and service on Telegram, from e-books, online courses and in-game items.

As Telegram Stars complies with the latest policies from Apple and Google regarding digital product sales, developers and users can leverage the new solution in iOS and Android mobile apps.

“Big day today, we’re launching Telegram Stars – a way to pay for digital services in mini-apps. Unlike old-school apps, Telegram mini apps like Notcoin don’t need to be installed for use. That’s why they grow so quickly. In addition, Telegram’s social nature allows mini apps to spread virally, so they reach tens of millions of users within weeks” Durov noted.

Durov also commented on why else Telegram Stars could be a game-changer for developers. He wrote in a Telegram post.

“Apple and Google take a 30% cut when users buy Stars from them, but Telegram will subsidize ads purchased with Telegram Stars. So if developers reinvest Stars in promoting their app, the overall commission will be nearly 0%. As a result, launching apps on Telegram makes more economic sense than launching traditional mobile apps.”

Developers will be able to swap earned stars for Toncoin (TON), the native token of the TON blockchain. Telegram, which integrated TON for it’s ad revenue share program, will provide the service via the Fragment exchange.

Despite the launch of stars, Telegram will continue to support the purchases of physical products, with transactions and payment providers unchanged as of the announcement.

The post Telegram unveils in-app digital payments system Telegram Stars appeared first on Invezz

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