Online Multiplayer Games account for over 60% Revenues on cashU
Middle East teenagers use cashU to buy gaming subscriptions, virtual gold, special items, and more.
Young online gamers without access to credit cards account for a majority of revenue on cashU, the largest Internet payment system in the Middle East and Africa. cashU’s prepaid cash card model enables users to make payments on the biggest names in online multiplayer gaming – World of Warcraft, Maplestory, and Runescape, which have a multi-million user base globally, and a loyal fan base in the Middle East.
Multiplayer games have a strong social aspect and are therefore regionally dominant, similar to social networking websites that are dominant in certain countries. With over 5 million users, Maplestory is one of the fastest growing MMORPGs (Massively Multiplayer Online Role Playing Game) in the Middle East, and one of the biggest draws for cashU. Acknowledging this growing niche, a Middle East version of Maplestory is planned in Q4 this year.
Massively multiplayer games have explored many different distribution models, and many of them can be freely downloaded and experienced for a trial period. Typically the user only pays for a subscription fee, but there exists a third party market for virtual gold, which can be used to buy armor, weaponry, and spells. cashU has a vast offering of gaming merchants in this niche as well – Offgamers and Guy4game being one of the most reputed ones.
Browser based multiplayer games have a distinct advantage over traditional games as they do not require any software installation and target casual gamers.
With over 500,000 users, Travian – an online multiplayer strategy game is one of cashU’s top gaming merchants, as it supports Arabic.
“Game publishers and developers are realizing that they have increased interest from the Middle East, based on their website analytics. Adding cashU as a payment method has significantly increased their conversion rates over traditional payment methods.” says Martin Waldenstrom, General Manager, cashU.com. “Our prepaid card model offers provides merchants with competitive commission fees and a zero chargeback guarantee.” he added.
cashU addresses the need for an internet payment solution, in markets and demographics where credit cards are not very prevalent. cashU’s prepaid card system enables minors to access and purchase online products and services anywhere on the Internet safely and without worries.
About cashU
Launched by Maktoob in July 2002, cashU was born as a result of a survey conducted by Maktoob.com, which revealed that only 13% of internet users were willing to use their credit cards online. There was a clear need for an internet payment solution that tackled fraud and security concerns; and also addressed the need for a payment alternative in countries where credit card penetration was extremely low.
cashU is a prepaid Internet payment service. The user can sign up for a free cashU account, which can be funded using a variety of payment methods. Funds added to the cashU account can be used to purchase products and services on cashU's growing merchant base.
cashU has provided the region with a key solution for e-commerce. cashU is a payment platform that is built upon and encapsulates the most sophisticated and up to date fraud prevention systems, cashU reduces the risk of online payments and allows for wider, safer and faster consumer participation in e-commerce.
cashU provides merchants with a solution where they can sell their goods and services on the Net, including virtual products (like online game items) or services (such as SMS or ring tones) that require micro payments. Merchants pay no setup or installation fees - and integrating cashU is quick and simple.
cashU is now available in 28 countries around the world. The cashU network connects hundreds of thousands of cashU cardholders, online and offline resellers as well as online businesses and merchants, and will continue to develop and advance rapidly.
