2024-10-25 03:20:00
Xsolla, a global video game commerce company, is pleased to announce the expansion of its payment solutions in Cambodia and Indonesia, offering access to local payment methods tailored to each region. This initiative is part of Xsolla’s broader strategy to strengthen its presence in Southeast Asia (SEA) and support game developers to effectively monetize and distribute their games in these fast-growing markets.
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In Cambodia, Xsolla introduces eight new payment methods, including Internet banking options and digital wallets, tailored to local users’ preferences. This strategic expansion covers up to 90% of the payments market, ensuring that almost every player in Cambodia can pay with their preferred method. For example, Bakong KHQR, a QR code-based payment system, holds 45% market share, while Acleda Bank accounts for 15%. Supported by the country’s ongoing digital transformation, with a 28.7% increase in digital payment transactions, these solutions, including Wing Money, Pi Pay and others, will enable game developers to reach nearly 2 million gamers in Cambodia, providing a more fluid payment experience and increasing sales.
In Indonesia, Xsolla is introducing several new payment methods to help game developers tap into the country’s vast gaming market, with more than 185 million players among a population of 275 million. Around 80% of consumers in Indonesia have no or limited access to banking services. With smartphone penetration reaching 80%, Alternative Payment Methods (APMs) are the most popular option in the country. By integrating these APMs, Xsolla can cover up to 90% of the market, including e-wallets (39% of the market), bank transfers (27%), cards (17%), and cash (11%). Popular platforms such as ShopeePay, Jenius and Akulaku are among the new payment options, facilitating transactions for Indonesian gamers and expanding market reach for developers in one of the fastest growing digital markets in the world.
“Xsolla’s commitment to empowering game developers to access new markets is central to our mission. By introducing localized payment methods in Cambodia and Indonesia, we are providing our partners with the tools they need to thrive in these dynamic and fast-growing gaming environments. This expansion is part of our ongoing efforts to support developers globally and help them overcome payment challenges,” said Chris Hewish, Chief Strategy Officer at Xsolla.
The gaming market in Cambodia is expected to reach US$75.21 million by 2027, with mobile gaming accounting for 66% of revenue in 2023. In Indonesia, digital transformation opens up huge opportunities for game developers, particularly through gaming solutions. localized payments that reduce friction and improve transaction success rates.
For more information about Xsolla’s payment solutions and how they can enhance your monetization strategy in Cambodia, Indonesia and beyond, visit xsolla.pro/psrw
About Xsolla
Xsolla is an international video game trading company with a robust and powerful suite of tools and services designed specifically for the industry. Since its founding in 2005, Xsolla has helped thousands of video game developers and publishers of all sizes finance, market, launch and monetize their games worldwide and across multiple platforms. As an innovative leader in video game commerce, Xsolla’s mission is to solve the complexities inherent in international distribution, marketing and monetization to help our partners reach more geographies, generate more revenue and build relationships with players around the world. Headquartered and incorporated in Los Angeles, California, with offices in London, Berlin, Seoul, Beijing, Kuala Lumpur, Raleigh, Tokyo, Montreal and cities around the world, Xsolla supports leading gaming partners such as Valve, Twitch, Epic Games, Take-Two, KRAFTON, Nexters, NetEase, Playstudios, Playrix, miHoYo and more.
For additional information and to learn more, visit: xsolla.com
The original language text of this announcement is the official authorized version. Translations are provided as a facility only and must refer to the text in the original language, which is the only version of the text that has legal effect.
View original version on businesswire.com:
Contact:
Derrick Stembridge
Global PR Director, Xsolla
[email protected]
Source: BUSINESS WIRE
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Interview with Chris Hewish, Chief Strategy Officer of Xsolla
Interviewer: Welcome, Chris! Thank you for taking the time to speak with us today about Xsolla’s recent expansion in Southeast Asia. Can you explain what prompted Xsolla to introduce new payment solutions specifically in Cambodia and Indonesia?
Chris Hewish: Thank you for having me! Our main motivation lies in the rapid growth of the gaming market in Southeast Asia (SEA). We’ve seen a significant rise in both the number of players and the importance of local payment methods in these regions. In Cambodia, for instance, digital payment transactions have increased by 28.7% recently. By expanding our payment solutions, we aim to help local developers effectively reach nearly 2 million gamers in Cambodia and tap into the vast potential of the Indonesian market, which boasts over 185 million players.
Interviewer: That’s impressive! You mentioned introducing eight new payment methods in Cambodia. Can you share a few examples and their significance?
Chris Hewish: Absolutely. We’re incorporating popular options like Bakong KHQR, which is a QR code-based payment method that dominates 45% of the market, as well as Acleda Bank. These methods cater directly to the preferences of local users, ensuring that almost every player can use a payment method they trust and are familiar with. This local focus not only facilitates easier transactions but also helps increase sales for game developers in the region.
Interviewer: Looking at Indonesia, the statistics regarding banking access are quite stark. How does Xsolla plan to address this issue through its payment solutions?
Chris Hewish: In Indonesia, about 80% of consumers have limited access to traditional banking services. This is where Alternative Payment Methods (APMs) come into play. We’re introducing solutions like e-wallets and bank transfers—naming platforms such as ShopeePay and Jenius. By doing so, we can cover up to 90% of the market, addressing the needs of underserved players. This strategy not only improves payment access but also enhances transaction success rates, which is crucial for developers looking to monetize their games effectively.
Interviewer: How do you envision this expansion impacting the gaming industries in Cambodia and Indonesia in the next few years?
Chris Hewish: We believe that these localized payments will significantly lower the barriers for game developers and enhance the overall gaming experience. For Cambodia, we project the gaming market will reach approximately $75.21 million by 2027, with mobile gaming being a major contributor. In Indonesia, we expect digital transformation to drive immense opportunities for developers. By improving payment solutions, we can foster a flourishing gaming ecosystem that improves player engagement and increases revenue for developers.
Interviewer: what message do you have for game developers who are looking to enter these markets?
Chris Hewish: We encourage developers to consider the unique local preferences and payment habits in Cambodia and Indonesia. By partnering with us and utilizing our payment solutions, you can streamline your monetization strategy and truly connect with players. Our commitment is to empower you to thrive in these dynamic environments, enabling smoother transactions and ultimately driving your success in Southeast Asia.
Interviewer: Thank you, Chris! It’s great to hear about Xsolla’s efforts to enhance the gaming landscape in Southeast Asia. We look forward to seeing how these developments unfold!
Chris Hewish: Thank you, my pleasure!
Interviewer: Welcome, Chris! Thank you for taking the time to speak with us today about Xsolla’s recent expansion in Southeast Asia. Can you explain what prompted Xsolla to introduce new payment solutions specifically in Cambodia and Indonesia?
Chris Hewish: Thank you for having me! Our main motivation lies in the rapid growth of the gaming market in Southeast Asia (SEA). We’ve seen a significant rise in both the number of players and the importance of local payment methods in these regions. In Cambodia, for instance, digital payment transactions have increased by 28.7% recently. By expanding our payment solutions, we aim to help local developers effectively reach nearly 2 million gamers in Cambodia and tap into the vast potential of the Indonesian market, which boasts over 185 million players.
Interviewer: That’s impressive! You mentioned introducing eight new payment methods in Cambodia. Can you share a few examples and their significance?
Chris Hewish: Absolutely. We’re incorporating popular options like Bakong KHQR, which is a QR code-based payment method that dominates 45% of the market, as well as Acleda Bank. These methods cater directly to the preferences of local users, ensuring that almost every player can use a payment method they trust and are familiar with. This local focus not only facilitates easier transactions but also helps increase sales for game developers in the region.
Interviewer: Looking at Indonesia, the statistics regarding banking access are quite stark. How does Xsolla plan to address this issue through its payment solutions?
Chris Hewish: In Indonesia, about 80% of consumers have limited access to traditional banking services. This is where Alternative Payment Methods (APMs) come into play. We’re introducing solutions like e-wallets and bank transfers, with platforms such as ShopeePay and Jenius. By doing so, we can cover up to 90% of the market, addressing the needs of underserved players. This strategy not only improves payment access but also enhances transaction success rates, which is crucial for developers looking to monetize their games effectively.
Interviewer: How do you envision this expansion impacting the gaming industries in Cambodia and Indonesia in the next few years?
Chris Hewish: We foresee significant growth in both nations’ gaming industries as a result of our localized payment solutions. By reducing payment friction and improving transaction success rates, we expect to see increased engagement from gamers. The gaming market in Cambodia is projected to reach approximately $75.21 million by 2027, with mobile gaming taking a significant portion of that revenue. Meanwhile, Indonesia’s vibrant digital transformation opens up vast opportunities for developers. Ultimately, our goal is to empower developers to thrive in these dynamic markets and improve player experiences across the board.
Interviewer: Thank you, Chris, for sharing these insights. It’s exciting to see how Xsolla is committed to fostering growth in Southeast Asia’s gaming landscape!
Chris Hewish: Thank you for having me! We’re looking forward to seeing the positive impacts of our initiatives.
