Above: Live Gamer is rebranding as Emergent Payments.
Image Credit: Emergent Payments
Live Gamer has rebranded itself as Emergent Payments, emphasizing its shift from gaming e-commerce to the broader market for digital payments around the world.
Global e-commerce is expected to reach $1.7 trillion in 2015, driven
by growth in emerging markets such as Asia, Latin America, and India,
according to market researcher eMarketer. And Emergent Payments is going
to focus on those territories.
Palo Alto, Calif.-based Emergent Payments aims to enable digital
companies to get to market quickly in fast-growing territories where
credit cards aren’t the norm. Emergent Payments handles all of the
complex local compliance, value-added tax, and cross-border challenges
so that businesses can just focus on what they do. Customers can pay
with whichever payment method they prefer.
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Andrew Schneider, cofounder and president, said in a statement
there’s a significant opportunity for digital companies to grow in
emerging markets, much like there was for gaming companies in markets
where Live Gamer started out. But it’s a complicated puzzle, given the
variety of payment methods and tax requirements, Schneider said.
Emerging Payments’ job is to reduce this complexity.
Nicholas Wodkte, head of media solutions and product innovation at
Samsung Asia, said his team has worked with Schneider’s for many years
now, solving myriad problems for product launches in Southeast Asia.
Joost van Dreunen, chief executive of market researcher SuperData
Research, said that most global companies prefer to work with
specialized payment service providers so they can focus on their core
businesses. Gaming companies adopted this path first, and others should
now follow, he said.
Emergent Payment’s flagship product is Pay+, a payment platform that
easily enables digital businesses to monetize products and services
globally by expanding into the world’s fastest growth markets.
Country-specific payment methods can account for as much as 70 percent
of transaction volume in global markets, Emergent Payments said. Pay+
works in 180 territories and uses more than 200 payment methods,
including credit cards, debit cards, bank transfers, pre-paid cards,
online bank transfers, mobile payments, e-wallets, cash-based
transactions, and crypto currencies. With Pay+, digital businesses can
use a single merchant agreement and one point of integration.