Gaming is a big business worldwide. However, South America is now at a tipping point regarding the mobile gaming market. And American companies can’t wait to get in.
Mobile phones are behind the growth acceleration – almost 60% of new users prefer to play games on their phones.
Brazil and Argentina had mobile gaming markets worth USD 1.48 billion and USD 446 million in 2020. And this trend will only continue to grow.
As a Fintech expert, Marcelo Cardenas has worked with US companies such as Facebook, Twitch, and various gaming platforms to gain customer access.
He created an innovative payment gateway that US-based companies could leverage Chilean users.
Cardenas enabled users to pay directly from their bank accounts, so no credit cards were needed.
The app game giant Candy Crush, owned by Activision Blizzard, has been one of his clients.
Here he discusses the importance of this kind of technology in enabling businesses to expand their growth and its significance in the South American market.
“Having a payment gateway allows businesses to take advantage of markets when their customers cannot pay with credit cards.
There are a lot of low-income earners in South America who just don’t have credit. I initially looked at rolling out the technology to enable them to use payment services in my native Chile. The gateway proved to be very convenient for them. It means they could make payments quickly, and companies could access the money through a straightforward method.
When I was working with Pago Maxtron to collect and process payments for US-based businesses inside Chile, we could take these payments, which were then converted from Chilean pesos to USD through the gateway.
It allowed users to buy virtual goods or even get extra powers in games with this groundbreaking method.
For the business, the bonus was a new network of customers they previously couldn’t reach.
Undoubtedly, this technology will enable the South American market to grow. It has revolutionized the way we do transactions. It allows companies to access customers digitally, which is, of course, the way the world is moving. In the future, eCommerce will become the new normal.”