Monday.com adds native monetization tool for Work OS, reducing reliance on third-party apps
New capability streamlines the entire payment and billing process, including VAT and currency conversions
Monday.com has announced a new capability that will enable developers to monetize apps directly within the platform’s Work OS.
The native monetization solution for monday apps marketplace will also allow developers and partners to supervise multiple payments and subscriptions from their existing monday.com accounts.
“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,” explained monday.com.
The company also said its native payment solution can be integrated into new and/or existing marketplace apps via monday.com SDK. The built-in feature works to automate the entire billing process, including currency conversions, recurring subscriptions, refunds, invoices, and revenue payouts.
However, new and existing app developers have the option to continue using third-party or external payment solutions pending their readiness to switch to the native system.
For end-users, the built-in monetization framework removes the need to navigate multiple premium apps’ unique payment systems. Essentially, monday.com users can manage all their purchases and subscriptions centrally from their existing billing accounts.
“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, senior 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,” added Mystetskyi.
“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," commented Daniel Lereya, vice president of R&D and product at monday.com. "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."
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