Swarmio Media Holdings Inc. (CSE: SWRM) (‘Swarmio’ or ‘the Company’), a vertically integrated, end-to-end gaming and esports platform that helps Telecom Operators (“telcos”) and game publishers engage and monetize the gaming industry, today announced the launch of Swarmio Pay, a new digital payment and digital wallet solution for the global gaming community.
Swarmio Pay integrates Telco Direct Carrier Billing, mobile wallet, credit card processing and other regional and local payment gateways, providing all gamers – even those without bank accounts or traditional payment options – with seamless access to gaming services, content and digital goods on the Swarmio platform. According to a study published by Juniper Research in 2019, experts predict that the proportion of global digital content paid for via Direct Carrier Billing alone will double over the five years between 2019 and 2024 and rise from $28 billion in 2018 to $90 billion by 2024.
In conjunction with Swarmio Store, Swarmio Pay completes an entire end-to-end transactional cycle, from gamers, to game publishers and developers, to telecom operators and gains revenue through a percentage-per-transaction fee.
“We have designed Swarmio Pay to simplify payments across the entire global gaming community – even for people without traditional bank accounts,” said Vinicius Esteves, Swarmio’s SVP, Digital Monetization. “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.”
By integrating digital payments for gaming subscribers, Swarmio Pay unlocks a key new revenue stream for telcos seeking new, unconventional sources of revenue and business models to grow and diversify their service portfolios. This is especially relevant for telcos in the regions where Swarmio is primarily focused, including Asia, Latam, Middle East and Africa where, according to Newzoo, there are 2.19 billion gamers. The use of mobile wallets is also surging with market revenue expected to be worth approximately $700 million by 2027 according to GMIInsights. This growth is primarily driven by the rapid global adoption of smart devices.