Gamepoint Club's Game Changer: Tazapay Localised Payment Gateway for Global Gaming
Gamers want to win. They’ll do anything from buying the fanciest hardware setups to the most powerful in-game items to make sure they have the best chance of winning that tournament or finishing that quest. To cater to this desire, many game companies developed an in-game economy that trades digital goods with digital currency to enable player characters with in-game power ups.
Tangentially, this also gave rise to opportunities for merchants looking to sell these in-game items to other players in the market. Since game developers may not necessarily have the in-roads to tap into underserved markets, merchants can tap onto this opportunity by partnering with the game developers and listing these in-game items on their eCommerce storefronts. Through this arrangement, they are able to take a cut off each sale, giving rise to wholesalers and resellers for these digital goods.
Among these merchants is Gamepoint Club, who acts as a wholesaler for popular online games such as Mobile Legends, PUBG, Free Fire, Ragnarok Online and Tower of Fantasy.
Serving Beyond the Player Base
Based in Malaysia, Gamepoint Club’s business model is unique in that they not only sell in-game credits and vouchers at a cheaper price for players, but they also act as wholesalers so that resellers can have a chance to get a cut of each sale. It is through this B2B arrangement that Gamepoint Club is seeing greater traction on top of players buying digital currency from them at a more competitive price.
Gamepoint Club’s resellers are based primarily in Southeast Asia, including Singapore, Indonesia, and Thailand. The wholesaler has since gained some ground in Saudi Arabia as well. Encouraged by their success in the international market, Gamepoint Club is spurred to expand regionally and have some dreams to tap into the Latin American and Middle Eastern market.
However, problems in handling payments have caused them to step back.
Expansion Took a Hit from a Challenging Payments Environment
By virtue of being a wholly online business, Gamepoint Club can in theory expand to all parts of the globe. But the reality is that many infrastructural and legal challenges stood in the way of their expansion plans.
Not only did Gamepoint Club have to contend with high remittance fees from payment processors, they also had to deal with fluctuating FX where currencies are volatile. Depending on the provider and the cross-border payment lane, Gamepoint Club couldn’t receive in their preferred currency which is the Malaysian Ringgit (MYR), and at one point also offered to collect in USDT to cater to international buyers that hold cryptocurrency.
To add insult to injury, Gamepoint has had bad experiences with other payment providers that provided very little support for any issues regarding international payments. One of which mistakenly processed their payouts in a different currency, causing the business to lose out in 6 figure sums while providing little recourse to rectify this damage.
This instance initially turned Gamepoint Club away from engaging with another third party payments provider for a while, but Tazapay was able to step up and provide a solution beyond their expectations.
Giving Gamepoint Club a Boost as an International Payment Gateway
For one, Tazapay made payouts to Gamepoint Club seamless by settling in MYR, their local currency, helping to free up bandwidth in managing their payments.
In addition, Gamepoint Club’s volumes made it possible to negotiate a daily payout cycle that was economical for the business, easing more cash flow worries for them.
“Tazapay has been fast, responsive, and supportive to my business. Other providers do not respond as quickly as they do, and I often had to wait for a weekly cycle for settlements. The fact that Tazapay has given a daily settlement option takes a lot of cash flow worries off.”
- Melvin Tang, Founder, Gamepoint Club
By integrating with Tazapay, Gamepoint Club also saw a more than 100% growth with Singaporean consumers through localised checkout via PayNow. Entering into Myanmar also became a possibility with Tazapay allowing international card payments in USD in this Southeast Asian market.
With Gamepoint looking towards the Latin American and Middle Eastern markets, we’re also looking forward to growing with them as we expand our local payment options in the upcoming quarter.
If you’re interested in finding the right localised checkout, currency conversion, and payout solution for your eCommerce platform, feel free to contact us so that we can understand your online business needs.
Other Case Studies
Gamers want to win. They’ll do anything from buying the fanciest hardware setups to the most powerful in-game items to make sure they have the best chance of winning that tournament or finishing that quest. To cater to this desire, many game companies developed an in-game economy that trades digital goods with digital currency to enable player characters with in-game power ups. Tangentially, this also gave rise to opportunities for merchants looking to sell these in-game items to other players
Globalisation and digitalisation has allowed many opportunities for people to move to a foreign country. However, home often holds a special place in people’s hearts, especially the feeling of homesickness that arises from those that move far away from where they were born. The Thai diaspora is no exception to feeling homesick. With 1.1 million of them across the globe, it’s certain that some would turn to digital means to reminisce about Thailand. This is where SeesanTV, a streaming platform
Expanding Beyond Borders: How Refrens, a Freelancer Platform, Lands and Retains International Clients with Tazapay’s Payment Gateway
For freelancers to succeed in the digital era, they have to do more than just honing and using the skills they have in exchange for cash. They also need to find and retain clients, manage their time, and also have a way to receive payments for their work. The latter of these three tasks can become tedious quickly as they take away the time needed for a freelancer to do what they do best, and even more so if their administrative and networking skills aren’t up to snuff. Hence, Refrens came to b