Bitcoin adoption hinges on two core principles: merchant adoption, and consumer awareness. Over the course of the past two years, merchant adoption has steadily increased all over the world, while consumer awareness remains something that still needs to be worked on. Little over 24 hours ago, news broke that gaming industry giant G2A.COM is now accepting Bitcoin payments.
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G2A Embraces Bitcoin To Expand Global Presence
Gaming giant G2A.COM is partnering with BitPay, the world’s leading payment processor, to accept digital currency payments on their marketplace. After investing over 20 million Euro in R&D over the past two years, the company has decided to take the plunge and see how Bitcoin can help their business in the near and distant future.
It is no secret that G2A.COM has become one of the household names in the world of digital gaming marketplaces. So far, the company has been processing over 700.000 thousand monthly transactions on average, which is quite a staggering amount. Keeping in mind that G2A.COM processed over 5 million transactions in 2014, they are well underway to smash that record this year.
Providing a safe and efficient way to buy and sell gaming products – including cd keys, software activation licenses, and time cards – in a peer-to-peer fashion is what made G2A.COM so successful in recent years. Now that Bitcoin payments are integrated into their Marketplace platform, customers from all over the world can use their favourite digital currency to buy goods from this website.
“G2A.COM is delighted to confirm BitPay as a trusted partner. BitPay are now a part of the proposition offered by G2APAY. By adding bitcoin, buyers and sellers at G2A can now benefit from another great global payment method. In my estimation, this partnership will increase growth for sellers due to the fact that customers will buy more often on the G2A.COM Marketplace.” – G2A.COM VP of Global Payments Bob Voermans told the media.
Securing this partnership with G2A.COM is another notch in the belt for BitPay as well. Even though the world’s leading Bitcoin payment processor has strategic partnerships in place with companies like Microsoft and Neteller, they have been going through a rough patch recently. This bit of positive news is a clear indication that BitPay is still alive and moving forward.
“We are delighted to partner with G2A, which will help us scale bitcoin payments to a broad gaming audience. By their nature, digital goods like games, are borderless. Using Bitcoin as a global payment method will complement the online experience.” – BitPay EMEA General Manager Marcel Roelants stated.
More Gaming Sites Embracing Bitcoin Payments
G2A.COM joined a growing list of gaming-related websites accepting Bitcoin payments. Earlier this year, Gamesplanet started accepting Bitcoin payments as well. Now that players are able to choose from different websites for their gaming needs – including buying time cards – things are looking very bright for the gaming industry.
Steam remains one of the world’s largest platforms as far as game purchases are concerned. So far, there is no indication of Steam planning to integrate Bitcoin payments anytime soon. However, users can buy Steam-enabled games on G2A and pay with Bitcoin directly, so there is a way to circumvent this “minor” hurdle along the way.
Source: Yahoo! Finance
Images courtesy of G2A.COM, Shutterstock, BitPay