8 November 2022

Emerging technologies in gaming and how merchants can focus on innovation by outsourcing payments

The gaming industry has always gone hand in hand with cutting edge technology, often being at the forefront of industries willing to incorporate and make regular use of them as soon as possible. 

And just as gaming was one of the industries to first widely utilise the internet to allow players to compete and interact with each other online, so too is gaming one of the main industries pioneering the next stages of emerging technologies: web3, the Metaverse, NFT’s and blockchain technology like Bitcoin. 

Although a lot of these technologies have had bumpy starts to their lives, with NFTs sometimes rapidly depreciating in value and processes like Bitcoin mining being seen as environmentally damaging, their future earning potential is widely considered to be pretty much set in stone. 

According to investment groups, the Metaverse could be worth up to $13 trillion by 2030, so although it’s not catching fire just yet, a lot of big businesses plan to take the leap to a more virtual world, complete with NFTs and blockchain payments, very seriously. 

Of course, those within the gaming industry are at the forefront of that, with 48% of gaming executives believing the Metaverse creates new opportunities for business models, and 50% of them prioritising investments in virtual, augmented (AR) or mixed-reality experiences. 

And it’s not just the business side of gaming that is welcoming this new tech into their lives, with 57% of gamers being interested in earning NFTs through gaming, and 45% of them saying they would invest even more into games if they could earn NFTs through playing.

With all of this excitement over the next evolution in technology, it’s important for merchants to get the right payment system to not only make sure transactions are as frictionless as possible for the consumer (especially across a global environment) but also as smooth and stress free for the merchant to set up and run. 

Working with a cloud-based payment orchestration platform (POP) allows a gaming merchant to easily implement a global payment system with little to no coding required, that works seamlessly across international borders and ultimately allows them to focus on more important matters, like leading innovation. 

With Gr4vy’s POP, you can have direct contact with payment service providers anywhere around the world, freeing up time and energy to devote to more complex work. Not only that but the merchant controls all payment data on the companies own terms, within a PCl1 certified agnostic vault. 

And all of this can be done anywhere in the world, reached by any consumer in the world, complying with any and all local data regulations, through Gr4vy’s established cloud instances and Edge computing. 

Gr4vy’s POP leverages the power of the cloud to give users the capability to streamline and manage payment methods, services, and transactions all in one place. Its orchestration layer upgrades a company's payment stacks to make infrastructure nimbler. While its intuitive, no-code dashboard centralises the integration and administration of payment methods, providers, conditions, and transactions.

If you’re interested in learning more, download our free eGuide for how gaming companies can make the most of payment orchestration platforms

With Gr4vy, you never have to lose a transaction again.