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Saturday, Mar 2, 2024

Xsolla Signs Deal with Mastercard

Xsolla, a Sherman Oaks-based video game commerce company, announced plans to collaborate with Mastercard on reward payments for gamers.

“Mastercard has been a strong supporter of the gaming community for many years — we look forward to further enabling cardholders to tap into their passions through this new partnership with Xsolla and shape the future of commerce in gaming,” Blake Rosenthal, executive vice president of fintech solutions at Mastercard, said in a release. “As mobile devices increase the accessibility of video games, a rewarding, best-in-class digital experience is essential to fostering a loyal gaming community and building a payments ecosystem that provides choice across platforms and dimensions.”

While the mobile gaming industry has become more popular, the digital experiences of consumers have not improved, many analysts say. According to research conducted by Mastercard, more than 40% of consumers said they need technical assistance when purchasing in-game currency, more than 30% said it takes too many steps to make online gaming purchases, and nearly 30% said the gifting process could be more efficient.

The partnership will combine Mastercard’s technology with Xsolla’s platform to create customizable and more accessible payment experiences for players, developers, and creators. Example inclusion of this include being able to use credit card loyalty points, thein-game currency gifting and improved creator payout processes. Financials of the partnership were not disclosed.

“The partnership with Mastercard is a testament to our commitment to continuously innovate for the benefit of developers and all players around the world,” Berkley Egenes, chief marketing officer at Xsolla, said in a statement. “By combining Xsolla’s Payments Solution with Mastercard’s loyalty capabilities, cyber solutions and card- and account-based payments technology, we can create new avenues for revenue creation and increased lifetime value for developers. We are excited to take this giant step forward in creating a better and more inclusive gaming experience for everyone.”

To kickstart this partnership, Mastercard cardholders will, beginning later this year, be able to use “Pay with Points” to redeem their loyalty points for in-game purchases. Players will also have the opportunity to gift in-game currency to friends and family. The companies are also working to solve challenges within the gaming industry including using Mastercard’s authentication and fraud detection capabilities to give parents control of in-game purchases made by children.

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans Welk is Interim Editor at the Los Angeles Business Journal and the Inside The Valley. She previously covered real estate for the Los Angeles Business Journal. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

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