Gaming gift cards sees an uptick in the Asia Pacific region

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Of all the payment tools, gift cards are among the most widely used payment method in the gaming sector. From transactions to purchasing games, and other in-game features, the popularity of gaming gift cards has surged ever since the pandemic outbreak. In the Asia Pacific region, there still exist a higher number of cash-bound users. To tap into the region, gaming gift cards providers are launching new products to drive their growth. For instance,

• In September 2022, gift card provider, Blackhawk Network, announced to partner with Chinese multinational video game developer, Shanghai Moonton Technology Co. Ltd. to bring Mobile Legends: Bang Bang (MLBB) gift cards to the Indonesian market. This MLBB is a mobile multiplayer online battle arena game developed and published by Moonton in 2016, which received significant appreciation in the gaming industry. Consequently, the gift card provider strategized to partner with the gaming company to attract gamers in Indonesia.

Since mobile gaming has become one of the fastest-growing markets in Indonesia, MLBB gift cards are expected to see significant adoption among gamers in the country. Notably, these gift cards will help gamers to redeem MLBB's in-game features, thus, helping to elevate the overall gaming experience for many mobile gamers. 

Importantly, Blackhawk Network introduced these MLBB gift cards in physical form for the first time that can be accessed by gamers through Indomaret stores. This, will, further help the gamers to top up the gift cards with the game’s currency from the MLBB website. Thus, PayNXT360 anticipates, a significant number of gamers in the country will be attracted by the convenience and seamless gaming experience offered by these gift cards.

• With the increasing popularity of Twitch gift cards around the globe, the company decided to roll out the product in Australia in April 2022. Notably, Twitch is a platform for fans of games, and sports, and helps them to chat, and build communities together. Initially, the company introduced Twitch gift cards for gamers in the United States allowing them to reward their favorite streamers by donating Twitch currency, Bits, or gifting subscriptions to other users, etc.

The Twitch gift card serves the same purpose as the other company gift cards and is often purchased for birthdays, holidays, etc. An individual can buy a digital or physical Twitch gift card of any pre-set amount; however, to receive the gift card, one should have a Twitch account.

Alongside Australia, the company also rolled out these gift cards in the United Kingdom and Canada. With the growing user base for Twitch in the region, PayNXT360 projects that these gift cards will see significant adoption in these countries because of the platform’s high popularity.

• The gaming industry is constantly adding more products to cater to the gaming needs of Malaysian users and consequently, in March 2022, Boost, the fintech arm of Axiata, launched Game Connect, to attract several Malaysian gamers. The Game Connect is a one-stop online gaming storefront solution that allows gamers to purchase not only gift cards but also game reloads.

Together with this, Game Connect also offered an array of steam codes for sale such as Bandai Namco steam codes for sale, steam codes of games based on One Piece, Naruto, Dark Souls games, etc. Importantly, these steam gift card codes or wallet codes work simply like gift certificates that can be redeemed on the Steam website or platform for the purchase of games, etc. 

Furthermore, the platform also offered several store vouchers and digital gift cards for PlayStation, Nintendo, and many more. Since, for the past eight quarters, Malaysia saw an increasing demand for eSports and games, Boost launched this marketplace to tap this growing demand and see business growth. Thus, PayNXT360 projects, the shift toward the digital lifestyle of the customers will boost the usage of gaming gift cards in Malaysia over the next four to six quarters. On the other hand, gaming platforms that sell an array of gaming gift cards are seen to raise funds. For instance,

• In November 2022, a gaming platform, Driffle raised around US$ 3.4 million in its seed funding round. The seed funding was led by BEENEXT together with other investors which will be used by Driffle to further grow the platform. Notably, the gaming platform has a wide array of products starting from games, and digital gift cards including gaming points for online gamers. 

Driffle has a unique model as it bases on the idea of allowing its users to buy games and allied offerings using their local currencies and payment methods including UPI. Additionally, the platform claims to offer secured transactions to online gamers as the digital fraud rate is high in the gaming sector.

The number of Indians diving into the gaming space is also likely to increase over the next three to four years. Consequently, PayNXT360 anticipates, higher adoption of the gaming platform will ultimately lead to increased sales of gaming gift cards in India.

To know more and gain a deeper understanding of the gift card market in Asia Pacific, click here.