With over 3 billion gamers worldwide and demand skyrocketing, the gaming industry is going through an unprecedented boom. But while this is great news — in Q1 2021, gamers were spending a whopping $1.7 billion a week on in-game purchases — it's also a wake-up call. Fast, convenient, and secure payments have always been critical to the gaming experience. But the explosion in payment volumes means it's never been more important to get payments right. Put simply, if the potential rewards are sky high, so are the risks of not meeting gamers' expectations.
In the past months, we sat down with some of the most innovative gaming companies in the industry to discuss:
- Where gaming payments can go wrong
- What they are doing to optimise payments acceptance
- What fraud they have seen recently
- How to deliver standout payment experiences
We've collected the key insights, best practices, and tips from these discussions in our ebook: How gaming companies are making payments their competitive advantage.
What you'll learn
The report is a comprehensive overview of the current state of payments in the gaming industry, and a guide that shows you how to take your payments process from major friction point to major selling point.
First, we examine the two key challenges the industry is facing — failed payments and fraud.
Next, we walk you through the steps you can take to address these issues effectively and create a payment experience that not only meets high security standards, but actually enhances gameplay and keeps people coming back.
The report covers:
- The top three reasons gaming payments fail.
- Five techniques you can deploy to stop failed payments in their tracks, enhance gamers' experience, and boost your revenue.
- How fraudsters are trying to capitalize on skyrocketing demand for games, including some of the most common gaming-related payment scams.
- How to strike the right balance between security and ease of payment.
- Why payments can be a powerful marketing lever.
The ebook contains insights from Checkout.com's highly experienced gaming payments experts, and contributions from industry leaders, including Wargaming, Xsolla, Ankama, and CDKeys.com.