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Ingenico eyes lucrative Chinese cross-border online games payments

Monday 14 August 2017 | 09:15 AM CET

Ingenico Group has announced that is looking at skill-based online games and education as new areas of expansion in online payments.

Company representatives commented on the growing online-games market in China, which is also expanding across borders. They have also added that online education would likely become another important opportunity for cross-border online payments.

China’s e-sports businesses, driven by people’s obsession with games, have created a mammoth market for online game developers.

About 560 million people, or 70% of China’s internet population, play games, according to market intelligence firm Newzoo. This creates important opportunities for payments companies. Streaming is also very popular, as 57% of the global e-sports audience is made out of Chinese viewers who consume about 3.5 billion hours of e-sports videos in 2016, according to an IHS Markit research report.

The payments company has made important investments in the Chinese payments market. In the past 10 years, the number of Chinese online transactions processed annually by Ingenico has grown by 180%, due to the growth of ecommerce in china.

Ingenico has partnered with Alibaba Group to facilitate Alipay’s mobile wallet acceptance in Europe. The company also manages cross-border payments on domestic ecommerce purchases for Alibaba.

For more information about Ingenico Group, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

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