Swarmio Media (CSE: SWRM) is strengthening its current product offering in the Philippines, via the integration of a cashless mobile banking system. The integration is intended to make conducting purchases on the Ember Gaming Platform easier, and more convenient, for consumers.
Swarmio has partnered with GCash, which has now been fully integrated into the Ember platform. GCash is said to be the dominant cashless mobile banking system within the Philippines, with its userbase averaging 60 million users in 2022, which amounts to roughly 83% of the adult population within the country.
With the integration now complete, users on the Ember platform will be able to purchase unique digital content and products through the integrated online store via the use of the digital wallet. Such wallets are said to be the leading method of payment in Asia, with 68.5% of all online purchases in the region conducted via a digital wallet. Conveniently, they are also the preferred method of payment for game publishers.
“This is a very significant milestone for Swarmio. Giving gamers alternative payment channels to choose from is extremely important in markets such as APAC, where many gamers do not readily have access to a credit card or bank account. We expect that this integration will facilitate many new and recurring transactions within the Ember platform,” commented Vinicius Esteves, SVP of Fintech for Swarmio.
GCash is owned and operated by Mynt, which is a subsidiary of Globe Telecom, whom is the strategic telco distribution partner for Swarmio in the Philippines. Swarmio and Globe jointly rolled out the Philippines version of the Ember platform, referred to as Globe Gamer Grounds, in April 2022 to 85 million consumers.
Swarmio Media last traded at $0.08 on the CSE.
FULL DISCLOSURE: Swarmio Media is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Swarmio Media on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.