There comes a time for some companies where, regardless of how long they’ve been operating, a fresh start is needed. Such was the case with the technology company now known as Wallit.
After debuting as iMoneza in March of 2015, Wallit (wallit.io) has not only changed its name, but shifted its primary focus from micropayments toward maximizing the power of subscriptions.
“The rebrand was a result of an internal decision to change our focus and we felt that a rebrand would be complimentary. It would provide the opportunity to re-introduce ourselves, so-to-speak,” said Tim Hunter, Wallit’s director of marketing. “We found that familiarity with the subscription model seemed to resonate more clearly with our audience. However, our micropayment technology is still leveraged extensively throughout the technology to offer diverse subscriptions.”
Hunter says the new name better fits what the company does best—offering a robust paywall technology to meet the needs of publishers and content creators, and providing users a single account from which they can purchase content from any partner in the Wallit network.
By using the Wallit platform, publishers have the ability to easily modify and employ different payment and frequency subscription types—whether it be through single article sales or an all access annual subscription.
“We’ve had great feedback. The ability to offer print or print plus digital subscriptions has existed, but we’ve really taken that next step,” Hunter said. “Our flexible system allows us to cater a program that fits the diverse needs of publishers selling their content. They control the product and the pricing, without any need for IT resources.”
Recently, The Durango (Colo.) Herald worked with the company to give its online readers additional purchase options beyond a monthly or annual subscription. The partnership was part of a larger strategy by the newspaper intended to enhance their website and offer new ways to monetize its content.
According to Hunter, Wallit has also partnered with a few digital-only sites as well as some niche publishers, business-to-business properties and magazines. Additionally, the company hopes to begin working with more newspapers of all sizes.
“The popularity of subscription services like Netflix, Spotify and Hulu really made people comfortable with the idea of a digital subscription. The Wallit technology steps ahead and allows publishers to offer a weekly, daily, monthly sports or nearly any combination that suits their needs,” Hunter said. “This product variety will help publishers reach a more diverse audience as a one-size-fits-all monthly subscription might not be right for all users.”