Online gaming has significantly evolved over the last decade. Gaming platforms have found a new way to collect payments and generate income that doesn’t involve selling games directly. Instead, they allow people to play a limited version of the games for free while selling them optional in-game assets and credits to enhance their gaming experience. Many of these sales involve cross-border transactions between developers and gamers in separate countries.
Are you interested in streamlining the payment processing capabilities of your gaming platform in this way? Below are six effective gaming payment processing strategies to help you get started.
1) Integrate a Crypto Payment Gateway – ChangeNOW
The most critical payment processing strategy is to integrate an advanced cryptocurrency payment gateway into your gaming platform. Since most gamers are from younger generations who invest in cryptocurrency, they are more willing to use crypto as a form of payment rather than traditional currency. If you process crypto payments on your gaming platform, it could attract more customers and sales than you would have ever gotten before.
For example, you could integrate ChangeNOW’s Crypto Exchange API into your gaming platform to support the exchange of more than 1,500 coins on over 110 blockchain networks. It will enable your gamers to make purchases using their preferred cryptocurrency tokens and stablecoins, such as Bitcoin, Ethereum, and USDT. They wouldn’t even need to leave the website or visit a third-party exchange to complete the transactions.
Thanks to the cross-chain swap solutions provided, all digital assets will become inter-exchangeable on your gaming platform. You will even receive the best possible market rates, offering greater flexibility for your gamers. They will have access to over 2.25 million exchange pairs across all popular blockchains, stablecoins, and trending tokens. That way, they can easily use their preferred digital assets when making purchases on your platform.
2) White Label Crypto Wallet – Fireblocks
Your gaming platform will need a fully customizable and brandable digital wallet to manage its crypto assets. Of course, building new digital payment infrastructure from scratch can be a costly and time-consuming process. That is why it is better to utilize a white-label crypto wallet solution that you can brand as your own without needing to build it.
Fireblocks’ Wallet–as–a–Service (WaaS) provides the essential software to establish a fully operational, non-custodial crypto wallet for managing digital assets stored on your gaming platform. The flexible API or SDK is fully customizable to adapt to your gaming platform, enabling you to support over 1,300 cryptocurrencies on more than 100 blockchain networks.
Fireblocks’ white-label crypto wallet solution offers developer-friendly integration, simplified onboarding, unmatched processing speed, complimentary customer support, and lower fees to boost profits.
3) Embed a Crypto Exchange Widget into a Gaming Platform – CoinPayments
You will want to make it as easy as possible for gamers to initiate crypto payment transactions on your gaming platform. One way to make this convenient for gamers is to embed crypto exchange widgets directly into your gaming platform and all its related websites.
The CoinPayments widget allows you to accept payments directly on your gaming platform’s website or app. It supports over 2,000 cryptocurrencies, enabling users to pay for in-game assets and credits instantly. You can even integrate it into your platform’s wallet to accept direct player deposits.
4) Create Liquidity for Gaming Assets – Binance Liquidity Solutions
Do you have a custom token for your gaming platform, or plan to create one? If so, you will need to list your token in a centralized or decentralized exchange and create a custom liquidity pool to enable continuous transaction flow without any delays or setbacks for your gamers.
Binance Liquidity Solutions offers additional asset listing services to help gaming platforms list new tokens by connecting them to multiple blockchain networks worldwide using multichain bridge services. Once the bridging is complete, your token will have increased accessibility and transaction volume, enabling it to sustain its liquidity on your gaming platform.
Deep liquidity is the name of the game when building custom digital assets for gamers. Professional digital asset listing services are the fastest and easiest way to create that liquidity.
5) Use a Profit Management Dashboard – BitPay Business Suite
Tracking and managing sales on a single, comprehensive dashboard is more efficient than outsourcing to third-party payment gateways that charge outrageously high fixed fees. BitPay Business Suite can enable your gaming platform with pay buttons, automate invoices, host checkouts, track sales, and more.
Businesses love BitPay because it is simple and does most of the work for them. It can open your gaming platform up to a global population of crypto holders and users who want to make purchases with their digital assets. The suite supports automatic conversions between cryptocurrencies and stablecoins.
6) Maintain Consistent Payment System Uptime – Alchemy Pay
One of the worst things that can happen is experiencing downtime with crypto payment processing on your gaming platform. Gamers expect fast and flawless crypto transactions if they are going to keep using your platform.
Alchemy Pay offers a 99.99% availability rate and nearly instant cryptocurrency payment settlements. The API will work seamlessly on your gaming platform, whether on websites or mobile apps. Your gamers will rarely encounter any issues with their payments. That is one more reason to integrate this particular API into your gaming platform.
Conclusion
Attracting modern gamers to your gaming platform requires evolving its payment system. If you allow your gamers to make purchases and exchanges with digital assets, you will help make your gaming platform stand out amongst the rest in the marketplace. Gamers will be more willing to trust your platform over someone else’s platform, since they won’t need to provide their credit card number or other personal payment information.
