Globally, gaming is a big business. But now that the mobile gaming market is about to explode in South America, American companies can’t wait to get in.
Smartphones and internet penetration are driving growth, and the numbers are adding up Almost 60% of new users prefer to play games on their phones, according to the Ministry of Culture Argentina.
How do the numbers break down? From 2021-2026, the mobile gaming market in this region is expected to grow by 10.5%.
The financial rewards look good, too. In 2020, the mobile gaming market in Brazil and Argentina will be worth USD 1.48 billion and USD 446 million, respectively. That’s only going to get bigger.
Marcelo Cardenas saw this coming. Creating innovative payment gateway technology with US-based companies enabled him to leverage Chilean users.
His innovative ideas in technology have allowed US companies like Facebook, Twitch, and multiple gaming platforms to access customers and cash.
Using fintech solutions, he made it possible to pay directly from users’ accounts, so no credit cards were needed.
Marcelo said: “There are a lot of low-income earners in Chile who don’t have credit cards, so this gateway is great for them. It means they can make payments easily, and companies can access the money with a straightforward method.”
Marcelo’s fintech solution, which he devised, enabled the company Pago Maxtron to collect and process payments for US-based businesses inside Chile. Payments are converted from Chilean pesos to USD through the gateway.
Users can buy virtual goods or even get extra powers in games with this groundbreaking method.
Different mobile games are also being introduced by major vendors to gain a competitive edge.
Call of Duty mobile was launched by Activision and Tencent in North America, South America, Europe, and other regions. 250 million people had downloaded it so far.
He’s helped Candy Crush, the app game giant owned by Activision Blizzard, harness its market power.
Marcelo met JT Klepp when he was at PlaySpan, which handled payments for digital platforms:: “Marcelo revolutionized the way we do transactions,” he said.
“His innovation gave us access to those systems and binarized them, opening the market.”
Horacio Justiniano, CEO at Cowork Latam in the US, has known Marcelo for several years personally and professionally.
He said: “For the US or any country to evolve, we have to build trust in our communities. The importance of bringing people with natural talent to their field cannot be overstated. It’s Marcelo’s nature to build connections and collaborate. His deep knowledge makes him a power node to connect people.”