Product Update: New Payment & Transfer Process

 

I am excited to announce 2 rather large improvements to the user experience at Apptopia.  Over the last few months we have completely re-worked both how you pay for acquisitions on Apptopia, as well as the entire transfer process.

 

I know that often times people do not like change and new processes; however, after being heavily involved in every step of over 600 acquisitions we think we have really got this thing down to a science.  Our new payment and transfer processes (which I will describe in detail below) reflect our experience and lessons learned.

 

How You Pay

paypal-logo

I am embarrassed to say that for the last 2 months, the only way to pay for an acquisition on Apptopia has been via a bank
wire.  While bank wires are a very secure and straightforward method of payment, its not so convenient.  Our job is to make a rather uncommon process (mobile app acquisitions), both easy and transparent for you.  For the last 2 months we did not do the best job of that, and for that I am sorry.  The good news is that, there were more acquisitions (in terms of both quantity and overall dollar value) in the last 2 m

onths than any other 2 months in Apptopia’s history.  This only speaks positively to the demand from buyers and the quality of apps built by you.

 

We are hoping to continue that growth with todays launch of PayPal as our exclusive payment method.  As of this morning all acquisitions < or = $20,000 must be completed using PayPal (deals over $20k will still be done via bank wire).  There are 3 things we really love about PayPal:

  1. They allow for maximum flexibility.  You can easily fund your PayPal account using your credit card and/or bank account.
  2. In addition, they are one of the most internationally friendly payment methods available today and as we have learned the app ecosystem is extremely geographically diverse.
  3. Their Dispute Resolution Center is impressive.  They have a very structured process and a large full time staff who’s sole job it is to make sure buyers like yourself are safe, and you can spend / transfer money online without any concern.

 

As PayPal is our primary payment method, you will be asked to “Verify Yourself with PayPal” before making an offer, or clicking Buy It Now.  This process is simply designed to make sure you have an active PayPal account before you enter into a deal on Apptopia.  The process will consist of re-directing you to PayPal to verify your credentials, and then back to Apptopia.  It is a one-time only process.  No money will be charged during this verification process.  In the future when money is actually due, you would be asked to re-enter your credentials and confirm your payment. T here will never be any surprises.

 

How You Transfer

 

Apptopia

 

At the end of the day, the actual process of transferring your app(s) is one of the most important functions on Apptopia.  It does not matter how easy it is to pay if the transfer process is a nightmare.  When I thought up Version 1 of Apptopia, I insisted that we have a staff of “Transfer Specialists” who worked 24/7/365 to make sure that we hand held every transfer, and that things went smoothly.  Truth be told, this was actually a bit of a mistake.  As time progressed and we transferred thousands and thousands of apps we realized that often times “getting out of the way” was the best thing we could do (and even sped up the process).

 

So we took all of our knowledge, experience, and past mistakes and designed a Transfer Center which should make the process significantly more transparent and straight forward (two of our biggest customer complaints thus far).  We will still of course have people on staff to help should there be an issue, but the process is designed to be 100% self serve.  I want to outline the process in detail below:

 

(Note: we have updated all help articles at http://help.apptopia.com and have plenty of emails / content you will interact with along the way, which will guide you through every step of the process.)

 

Pre-Transfer

Sellers must upload their code.  In order to begin the process and enter into an acquisition of your app, you must first upload your code.  You can do this before a buyer shows interest (via the Prepared for Sale function) or you can do it once you have an offer.  However, you will not be able to truly accept an offer and move forward without first uploading your code.  It is also important to note that we now ask sellers to separate their code for each app into 3 sections: 1. Source code 2. Marketing & design related assets, and 3. Passwords, certificates, & keys.

Image: https://www.evernote.com/shard/s58/sh/ef020425-332d-4565-bb95-262aab7ced03/69169392b41dec0d880c8e1c2db95bdc

 

Step 1 (initial payment)

The buyer must submit payment for 50% of the final acquisition price.  This payment / deposit shows clear commitment from the buyer and allows us to actually begin the transfer process on the app store level.  This initial payment is split between Apptopia & the seller.  Apptopia takes our 15% fee and the seller receives the rest of the payment.

 

Note: As we always have done, should there be a legitimate issue with your app transfer and it can not be completed, we will refund our fee immediately.

 

Step 2 (app transfer)

This is where the app(s) get transferred from one developer account to another on the app store level.  This process very generally consists of (in order):

 

-       Buyer providing seller information about their developer account

-       Seller initiating transfer

-       Buyer accepting

-       Seller indicating on Apptopia transfer is complete

 

Step 3 (transfer verification)

This step is only for the buyer.  Essentially, we ask that buyers connect their new developer account to Apptopia after the transfer so that we can verify for 100% the app(s) purchased do in fact live in the buyer’s account.  This is an added security measure for all buyers.

 

Step 4 (final payment)

Now that we have verified the transfer is 100% complete, we require payment of the final 50% of the acquisition price.  As Apptopia has already taken our fee, this payment will go exclusively to the seller.

 

Step 5 (complete!)

After the final payment is received, source code and app assets all become available for download for the buyer.

 

Important Notes:

-       A link to download your code is always available in the Transactions section of your account.

-       You will also always be able to view/download your invoice and purchase & sale agreement here.

-       Should for whatever reason there be an issue with the code its quite important you address this immediately with the seller (their contact information is also always available in your Transactions section).

-       If there is a situation where things cannot be resolved between the two of you, then there is an “Open a Dispute” function located in this section as well.  Apptopia will only get involved if all means to resolve the issue were already attempted.

 

In addition to all that is mentioned above, you should notice significant “Clean-Up” throughout the site.  We have received a lot of amazing feedback and we took as much of it into account as we could during this release.  Most improvements live within the Your Account function of the site.

 

We are here to help, and really excited about this new stage for Apptopia and our community.  If you have any questions, comments, concerns, or even just find a small mistake that we missed (we are human) we would love to hear from you.  As, without you, we would for sure not be where we are today.

 

Jonathan

This article has 2 comments

  1. Hi,

    This all sounds good, but my transaction is in limbo because of this change and I don’t have any access to upload my code. I have sent my code via email as requested but I cannot get access to any details regarding my transaction so I am in the dark as to where we are in this process.

    Please get one of your coders/db guys to at least import my transaction into my account so I can see whats going on.

    Dave

  2. Excellent willing analytical eye for fine detail and can anticipate issues before they occur.

Leave a Reply