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Telegram introduces new in-app digital payments system named ‘Stars’

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Telegram has recently launched a new payment system called ‘Telegram Stars’ on its social media platform. This system allows users to pay for digital goods and services such as e-books and online courses through in-app purchases on both Apple and Android devices. CEO Durov emphasizes that ‘Telegram Stars’ offers a convenient way for users to pay for digital services in mini-apps. App developers can withdraw stars earned by their bots in TON, the native token of The Open Network, through the crypto exchange Fragment, and also use stars to promote their apps on Telegram.

Durov explains that Telegram uses web applications called “mini-apps” that run within the messaging platform. Over 400 million people interact with these mini-apps every month, and businesses have been using them to sell physical products for years. Now, the service has expanded to allow payments for digital products using stars, an in-app virtual currency. Durov ensures that this new system complies with Apple and Google’s latest policies on selling digital goods, despite the 30% commission they take when users buy stars from them.

Within a short period of time, Telegram has experienced a surge in apps being built on its platform. Notcoin, a tap-to-earn game, launched on the platform in January and quickly gained 35 million users within five months. Another game called Hamster Kombat, based on the TON blockchain, has garnered over 100 million users by allowing players to earn points through its mini-app on Telegram. Durov attributes the rapid growth of these mini-apps to the fact that users do not need to install them on their devices, making them easily accessible.

As part of its ongoing development, Telegram plans to introduce more features and functionality to Telegram Stars in the future, including incentives for content creators. Durov envisions a future where users can engage with a variety of digital products and services seamlessly through the platform, with the support of Telegram Stars. The price of TON has increased by 4.7% to $7.54 at the time of writing, marking a significant 350% rise since January. With the continued growth and success of Telegram’s new payment system, the platform aims to revolutionize the way users interact and transact with digital content.

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