CHIBA, JAPAN - SEPTEMBER 20: An attendee plays a video game on the PlayStation 4 video game console in the Sony Interactive Entertainment booth during the Tokyo Game Show 2018 on September 20, 2018 in Chiba, Japan.
Mastercard and video game e-commerce firm Xsolla have joined forces to facilitate easier and more secure online gaming payments.
They promised to make it easier for players to make purchases and get rewards without hassle. As featured on GamesBeat, the firms will employ methods like credit card benefits, in-game currency trading, and streamlining the creator payout process.
Together, Xsolla's platform and Mastercard's technology, network-level knowledge, worldwide reach, and trusted relationships will make it possible to provide players, developers, and creators with a broader range of payment options.
Need to Expand
Nearly 3.2 billion individuals, or about half of the world's population, are projected to have played games in 2022. Mobile devices are a major driving force in this growth across all demographics and geographies. As a result, the expansion in the gaming industry has not been matched by the expansion of the digital commerce experiences that inspire developers to create new games.
Over 40% of customers say they require assistance purchasing in-game cash, and over 30% think there are too many procedures involved when buying virtual goods from an online game store. Almost 30% of Mastercard's research respondents indicate that giving gifts might be more streamlined.
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Response to Demand
When it comes to digital payments, Mastercard and Xsolla will be collaborating together to enable new card and account-based products and services.
To kick off this ground-breaking relationship, Xsolla will integrate its Pay with Points solution into Mastercard's Pay Station platform, allowing cardholders to easily redeem loyalty points for in-game purchases with their Mastercard.
Mastercard's executive vice president of fintech solutions, Blake Rosenthal-Herman, said in a statement, "Mastercard has been a strong supporter of the gaming community for many years. We look forward to further enabling cardholders to tap into their passions through this new partnership with Xsolla and shape the future of commerce in gaming."
A further feature available to players is the ability to send virtual gifts to other players.
The firms are working together to address issues plaguing the gaming industry and to strengthen consumer safeguards, such as enabling parents to vet in-game purchases for their children using Mastercard's authentication and fraud detection tools.
Berkley Egenes, chief marketing officer of Xsolla, acknowledged that the relationship with Mastercard is a testimony to their drive to consistently innovate in beneficial of game developers and players worldwide.
Later this year, players will be able to use Mastercard loyalty points to buy virtual goods and services.
On Mar. 21 to 24, Xsolla and Mastercard will showcase their Pay with Points solution at the Game Developers Conference in San Francisco.
See Also: O2 Offers £200 Mastercard For Customers Who Will Buy iPhone, Samsung Galaxy Phones
