Gambit Launches Application Payment System

When it comes to online payments on the Facebook platform, there are a number of options for developers. The system appears to be a combination of offer rewards, similar to Offerpal Media and Super Rewards, and an aggregation of various payment systems. Currently the platform runs on a number of social networks and according to their release, is powering “15 percent of top social network games.”

The company has been running tests for a few months now and according to their team, they are producing competitive results. After starting as a development team, the company began building their own in house payment system which ended up producing some extremely competitive results. In the end they decided to shut down their suite of applications and focus completely on their ad platform.

The number of ad networks on Facebook continues to grow and while Facebook in now testing out their advertising platform within applications, they are not competing with any offer or rewards programs. Similar to the other rewards programs, Gambit has invested heavily in attracting games and other applications that leverage virtual currencies.

So far, the top performing applications in terms of monetization on the Facebook platform (and other social platforms) have been games. The team is comprised of Andrew Hunter who was previously at Ning, Chris Smoak who was previously at Amazon, and Noah Kagan who claims to have invented Facebook’s status feature while working at the company as employee number 30.

The company is not limiting their reach to social networks though. Currently they have integrated with SmallWorlds and other destination sites which currently accounts for 25 percent of their business. One of the best features of the Gambit platform is that it is 100 percent customizable “so developers can make their payments engine look like their application.”

If you are a developer and want to learn more about Gambit, go check out the demo via their website.

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