GoCoin has partnered with payment processor Ilixium to enable digital currency payments for online gaming companies. GoCoin made the announcement at the Excellence in Gaming (EiG) conference in Berlin.
GoCoin, with its Litecoin and Dogecoin offerings for merchant acceptance, fills a key niche a competitive industry that includes major players like Coinbase and BitPay. Traditional payment networks typically shy away from gaming and other industries they consider high risk.
According to a press release, Ilixium introduced Consumer Payment Outsourcing (CPO), whereby the processor holds funds and acts as the clearing house between the customer and the business. On its website, it says it is an authorized agent of the Electronic Money Institution regulated by the UK’s Financial Conduct Authroity (FCA).
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It is believed that the processing scheme and partnership will help bring down the cost of making transfers, both for Ilixium and its client businesses. Said Eric Benz, EMEA director of operations at GoCoin:
“Gaming operators face constant pressure to reduce their cost per acquisition. Offering a low friction, low-cost payment option keeps players in the game, and by partnering with Ilixium, we are helping operators keep more of their profit margin and — in many cases — collect money that would otherwise be left on the proverbial table.”
Benz is presenting GoCoin’s iGaming strategy today at “The Pitch” competition.