Rapyd, a global Fintech as a Service platform, is partnering with J L Stream (Jaldi Live), the new ‘Made in India’ Social LIVE streaming app, to provide a complete payment solution to J L Stream users globally.
The social live-streaming app is promoted by Bollywood actor Shilpa Shetty Kundra, entrepreneur Raj Kundra, and an advisory board of industry visionaries like Raj Nayak, former chief of Viacom, Bunty Bahl, CEO at ITW Playworx Media & Entertainment, and Nandan Jha, former COO at Ease My Trip. J L Stream is available in India and most countries around the world, offering streamers an opportunity to showcase their talent in any language, any time, and receive revenue.
Payments integrated into the J L Stream app support three main types of transactions:
- In-app purchase of coins by J L Stream users (supported by Rapyd Collect);
- Users sending gifts to broadcasters whose content they enjoy as a form of appreciation (developed in-house)
- Streamers or broadcasters cashing out gifts with their preferred payment methods (supported by Rapyd Disburse).
With Rapyd’s Collect and Disburse solutions, along with the Rapyd Global Payments Network, J L Stream offers its users a localised payment experience on the app, enables streamers to get paid, and reduces J L Stream’s costs compared to building its own global payment infrastructure.
Rapyd Collect allows J L Stream to accept payments from users around the world in their locally-preferred way – including bank transfers and Netbanking, local eWallets, and credit or debit cards. Indian consumers, for example, can pay with UPI, Netbanking, any Indian debit or credit card, and most eWallets including Paytm and PhonePe when they consume live stream or play games on J L Stream. Rapyd Disburse enables J L Stream’s streamers to get paid in their bank accounts in their respective home countries.
“India has seen a significant increase in digital content consumption in the past few years and more users are likely to switch from traditional channels to app-based digital content. Rapyd and its comprehensive, secure payment platform provide us with the necessary payment capabilities to quickly scale and grow. This partnership allows us to focus on our core product and the features that make us unique, as well as global growth, while Rapyd takes care of the complexities around how users pay and how streamers like to be paid,” commented Raj Kundra, CEO, J L Stream.
COVID-19 has further boosted the consumption of digital content among Indians. According to KPMG, Indian consumers are likely to form new habits resulting in increased consumption of OTT content and online gaming even after COVID-19 comes under control.
“With COVID-19 accelerating digital consumption patterns in India, businesses need simple solutions to resolve their payment challenges in a timely manner. I am excited that Rapyd is powering the payment infrastructure for J L Stream to help them offer a superior streaming experience in India, and is supporting J L Stream’s ambitious expansion plans around the world,” said Joel Yarbrough, Vice President for Asia Pacific, Rapyd.