monday.com, a work operating system (Work OS) where organizations of any size can create the tools and processes they need to manage every aspect of their work, has launched a monetization framework for the monday apps marketplace. The new marketplace monetization solution will give developers and partners the ability to integrate and manage app payments directly within the Work OS, and let all users manage multiple payments and subscriptions from their existing monday.com account.
“With monetization being one of the best incentives for app development and innovation and the fact that the vast majority of apps on our marketplace are already using an external payment solution, the need for this feature was clear”
With the new payment solution and the platform’s flexible low-code/no-code framework, developers will be able to build, distribute, and monetize their apps all within their monday.com workspace. The payment solution can be easily integrated into new and existing marketplace apps with the monday.com SDK. Once the new capability is implemented, developers can start processing payments and monday.com will automatically handle the entire billing process, including currency conversions, recurring subscriptions, refunds, invoices, and revenue payouts. New and existing developers will still have the option to use external payment solutions until they are ready to make the transition.
“With monetization being one of the best incentives for app development and innovation and the fact that the vast majority of apps on our marketplace are already using an external payment solution, the need for this feature was clear,” said Vlad Mystetskyi, Sr. Team Lead of the monday apps team. “As our ecosystem continues to grow, we anticipate the marketplace becoming a key channel for enterprises and individual developers looking to distribute their apps to our global user base.”
For customers, the built-in monetization solution means they will be able to pay for premium apps via the monday pay system, which will manage all purchases and subscriptions from their existing monday billing flow, removing the need to navigate each app’s unique payment process.
“With the ability to seamlessly implement monetization into any app, developers will be able to create full-fledged products with complete experiences on the monday.com marketplace,” said Daniel Lereya, VP of R&D and Product, “And, with the new, organic incentive for innovation, we’re eager to see how apps and developers provide added value for the monday.com community.”
Launching in late 2020, the monday app marketplace has reached 1 million visitors and 195,000 app installs. Some of the apps already taking advantage of the new monetization feature include OP.sign, a secure electronic signature service and winner of the 2020 monday.com App Challenge, and General Caster, an app that performs advanced calculations and operations without a dedicated formula column. Like all marketplace apps, OP.sign and General Caster can be integrated into any workflow or custom automation.