4 Payment Essentials For Online Gaming Merchants
Online gaming is booming, which makes it even more important for gaming merchants and platforms to pick the right payment solutions for their customers and markets.
Failing to provide enough payment options, or slowing down gameplay, are two ways merchants can let players down and ultimately lose customers. The wrong solution will turn away gamers and cost you money. Make sure your payment provider is giving you the tools you need to make it seamless and secure for players to complete purchases without interrupting the experience.
Want to find out about the UK online gaming market and attitudes to fraud and payment methods? Download our report here.
Here are four essential payment solutions for online games companies.
#1: Flexible Options
Cards are still the primary payment option for most gamers in Western Europe and North America. However, around the world, alternative solutions are preferred by over 51% of game players. Make sure to offer PayPal, Apple Pay, Google Pay and other e-wallets, plus the option to pay using a mobile bill or direct debit.
International reach and growth into new markets – especially China, South East Asia, Latin America and Russia – depend on an adequate level of secure payment option flexibility. Just don’t overload the user at every touch point. Payment providers with expert market knowledge can customise checkout options so that they provide the right options in each country and region.
#2: One-Click Solutions
Once a free trial is over, gamers want to forget about the cost. Make it easy for them to complete the checkout/registration and payment process. Keep the number of options limited, but enough to ensure security and compliance boxes are ticked, and the payment is taken securely, with the relevant third-party authentication.
In-game purchases need to be seamless. No one wants to pause to find a card or to fill in more than necessary. One-click solutions are ideal in this scenario. Repeat purchases are easy to implement. The game experience is uninterrupted.
#3: Around the Clock Service
Online gamers are active around the world, at every hour of the clock. Through multi-player experiences and online games, they find themselves playing against people all over the world. Make sure your payment solutions provider can keep pace with the action. You need uninterrupted service, with 24/7 backup and support.
#4: Local Knowledge and Options
China is the fastest growing gaming market in the world. We expect gaming revenue to exceed $24 billion in 2017. As most gaming merchants and platforms know, this is not an easy market to crack. A nationwide ban on consoles was only lifted last year, and the government still monitors and restricts content. You need local partners, content and knowledge to cater to this unique market, behind the Great Firewall of China (GFW).
Games providers and merchants need to offer local payment solutions, with e-wallets the most popular option. Supporting native brands, such as AliPay, is one of the most effective ways to win customers in this market.
Gaining traction in local markets means catering to local needs and restrictions. Gaming is a consumer-led market, so make sure your payment provider can adapt to new trends, deliver the most effective solutions and give consumers what they need to pay and keep playing without interruptions.
Get our Online Gaming and Fraud report here! We surveyed over 2000 UK gamers to find out about their attitudes to fraud and their preferred payment methods. Download the full report here for valuable insights and stats.