MIAMI BEACH, Fla.--(BUSINESS WIRE)--SafetyPay™, a secure payment facilitator and clearinghouse benefiting online shoppers, online merchants and banks worldwide, is now offering its online payment solution to the gaming industry.
With SafetyPay, gamers are now able to make micropayments, a financial transaction involving less than $12. SafetyPay enables merchants to accept micropayments without hurting their profits and remain competitive in the digital transaction space.
According to the Entertainment Software Association, the U.S. video game industry netted $30 billion dollars in 2010. The gaming industry has seen an explosion of casual gaming but has been limited by the types of payment options available since traditional modes of payment – credit cards, debit cards and checking accounts – are not set up to process micropayments. Micropayments usage has been hindered due to the need to keep costs for individual transactions low, which is impractical when transacting such small sums.
As part of its foray into the gaming space, SafetyPay has signed an exclusive partnership with Maximus Cards, an international gaming retailer. Through its partnership with Maximus Cards, SafetyPay will cross-sell its services to nine international markets. SafetyPay enables gaming merchants to accept and approve micropayments in real time, offering their customers a simple, secure and instant online purchase option. SafetyPay is also in negotiations with other gaming retailers.
“Working with the gaming industry to solve the acceptance and processing of micropayments benefits both the merchant and consumer by now giving them the ability to utilize a one step process for small transactions,” said Manuel Montero, CEO of SafetyPay. “Implementing non-traditional payment methods will ensure gaming companies success due to their growing popularity and need to process micropayments. Within the worldwide gaming industry, SafetyPay enables consumers to pay in their own currency and play in their own language.”
About SafetyPay
SafetyPay™ is a safe and secure e-payment solution that enables online banking customers to make Internet purchases from merchants worldwide and pay directly through their bank account. Customers are never required to disclose any financial information to the merchants or to SafetyPay, and all payment transactions are done from within the bank’s online environment.