By Fernanda Mathias
The gaming industry is one of the biggest and fastest-growing businesses today. It started with traditional games, conquering fans and faithful customers worldwide, and now its successful journey continues with online gaming due to the great variety of ways to play games.
- Research shows that mobile gaming has become the leading segment of the industry. In 2019 the sector accounted for 51% of the global revenue in the gaming industry. The estimated market share of mobile games of global revenues is 59% in 2021.
- Statistics show that there were an estimated 2.7 billion gamers across the world in 2020. The same source states that the entire gaming industry is expected to be worth over 200 billion U.S. dollars by 2023.
- A report also shows that the video game industry made more money in 2020 than the global film and North American sports industries combined.
Everything does look great for the gaming industry, with an encouraging environment; however, the sector still faces certain challenges. As a gaming merchant, you ought to be aware of them and prepared to solve these challenges to prosper in the gaming business.
The rules and regulations of the gaming industry are a constant challenge for merchants, mainly because they change according to the type of game and location. There is a blurred line between gaming and gambling, mostly because some games are considered sports, whilst others are still illegal in some countries. It all depends on how the games are structured.
As a merchant, you must be aware of the regulations, laws and limitations of online games, including payment processing. At iPayTotal, we help you acquire the most suitable merchant account according to your business’s needs. We understand the specifications and requirements of the gaming and gambling industry and are ready to provide you with the best payment solution.
The gaming industry is very popular indeed, so it is no surprise that everyone wants to be part of this market. If you are a gaming merchant or trying to enter the business, there is still space to explore, but it is essential to find the best path.
One of the best ways to stand out is by offering alternative and new payment options. By doing so, you will expand your business locally and reach customers globally who can purchase by using credit or debit cards or even cryptocurrencies. At iPayTotal, you will find customised solutions for your business that will allow you to accept alternative payments and even integrate a crypto-exchange platform.
The user experience
Gamers are genuinely concerned about the user experience – it is not about the game alone but also the whole experience on the platform. Security is also essential when it comes to gaming websites.
More than half of gamers will not continue purchasing if they know about a security breach on a website. A safe website with a smooth and simple payment process will help you increase the volume of visitors, players and buyers.
iPayTotal can help you to provide an effortless payment experience in a secure environment for your gaming merchant account.
Contact us at iPayTotal to find out more about our services and customised solutions for your gaming merchant account. We have a team of experts to guide you through the new challenges of the gaming industry and succeed in it.