Swarmio Media Holdings (CSE: SWRM) continues to launch portions of its full-service online gaming platform. The firm this morning announced the launch of what it refers to as Swarmio Pay, a digital payment and wallet solution intended for the gaming community.
Swarmio Pay works to provide gamers with access to gaming services, content, and digital goods on Swarmio’s platform. It works by integrating a mobile wallet, credit card processing, local payment gateways and Telco Direct Carrier Billing, enabling those without bank accounts or traditional payment options access to such goods and services.
Generating revenue via collecting a percent on each transaction, the launch of Swarmio Pay follows the launch of Swarmio Store, and completes the end to end transaction cycle. The two products collectively bring together gamers, publishers, developers, and most importantly, telecom operators into one value chain.
Current market research suggests that the amount of global digital content that will be paid for via direct carrier billing (i.e. via agreements such as with telco operators) will grow from $28 billion in 2019 to that of $90 billion in 2024. Swarmio’s platform works to unlock such revenue streams for telco operators, making Swarmio a key player in the category.
“Swarmio Pay delivers value to each stakeholder throughout the gaming ecosystem, from creators to distributors, to players. By facilitating the purchase of in-game items and making them easily accessible to all game audiences through multiple payment options, we can uniquely engage telco gamer subscribers and help increase average revenue per user. This has the potential to deliver engaged, paying audiences with top-notch payment flows and payout rates for both Swarmio and its partners,” commented Vinicius Esteves, the SVP of Digital Monetization for Swarmio.
Swarmio Media last traded at $0.39 on the CSE.
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