Extending the customer base for online gaming
The internet gaming Industry is one of the fastest and most growing markets today. To cope with this growth many new alternative payment services have entered the arena. e-wallet type mechanisms promised users a safer and more convenient way to gamble online but, even though the credit card companies are wary of the internet gaming space, these e-wallet models still have not achieved their early promise. Consumers find the process to be cumbersome, having to wait several days before being able to access their funds, and, in opening new accounts, have to go through stringent security barriers.
The fundamental reason these payment mechanisms have not covered the majority of the market is that they try to change the behaviour of the consumer. They are not what the consumer wants. Now a new player has entered the market with an innovative payment solution, claiming to overcome these inconveniences for consumers and merchants alike in the gaming space.
Global Pay and Play LTD (G-PAP) offers a unique payment mechanism to consumers who wish to gamble online in a method that is instant, private and secure.
Online merchants who adopt the TreoCard service will find that it is easy to integrate with their existing payment options. The TreoCard is an ideal alternative online payment method for consumers who do not have credit cards, which is estimated to be a $50 billion market, and for those who would, for many reasons, prefer not to use their credit card. In addition the global nature of TreoCard will mean that is possible to receive and spend in multiple currencies.
TreoCard has been developed specifically for the gaming sector, namely the online casino and gambling market, as it recognises the concerns consumers may have over their privacy, credit card details and swift access to funds. Furthermore G-PAP offers a dedicated directory service at www.treocasinos.com
TreoCard merchants will receive a listing on TreoCasinos.com which will enable consumers to swiftly find and access your site knowing that the merchant will accept the TreoCash
For online merchants, G-PAP and the TreoCard offer a number of benefits in comparison to other payment systems. As well as the aforementioned unbanked market there are among others no chargebacks. Merchants wishing to integrate TreoCard as an alternative payment mechanism to their existing site should contact G-PAP at www.g-pap.com
So how does it work?
The Pay and Play process is simple and effective. Consumers purchase their TreoCard online or offline from supporting retailers or telco distributors. They can then visit TreoCasinos.com or visit you directly. In addition if required G-PAP could offer a customised card or promotional service for a dedicated merchant.
At the merchant site, the consumer selects the TreoCard option and deposits funds from their TreoCard into their online account. Consumers can gamble or game only to the amount of their card. For example if a $100 TreoCard has been purchased then a deposit of any amount (above the merchant’s minimum) up to the $100 can be made. Consumers may purchase as many cards as they wish. Payment to consumers is done through the normal methods used by the individual merchant casino e.g. wire transfer, cheques etc. G-PAP will process all TreoCard transactions and remit payment to merchants twice monthly. If required, payments can be made in multiple currencies or a single pre-agreed denomination.
Banks and card associations are not involved in the transaction. This means that regulations regarding content, chargeback levels, cross-border acquiring do not apply to TreoCard transactions.
Consumers who cannot get a credit card, due to their age, location, or credit rating, or will normally refuse to use one on the internet for security reasons, will have access to transactions via physical TreoCard which can be purchased at retail outlets.
Customers get a safe, secure and instant method to gamble online at selected merchant sites in privacy and without complex signup requirements. The value of the card is value of the deposit amount, there are no points.
Within 2 months of commencing operations, G-PAP already has over 10,000 physical retailers in New York, Florida and the United Kingdom. Global market penetration for physical retailers of the Treocard is simply a matter of time.
G-PAP is looking to open up previously inaccessible regions such as Eastern Europe, Africa, and countries like India to the world of online gaming. This is done simply by integrating with existing phonecard companies within those regions. Instantly there will be several thousand retailers carrying TreoCards ready for consumers to use as a payment mechanism to online casinos.
Currently Treocards may be purchased online through trusted partners such as 4-epin.com. The advantage here is that users are more comfortable giving credit card information to a phone company than they would a gaming merchant, for fear of having it show up on their credit card statements. This also solves the problem of credit cards and the dreaded 7995 code for merchant gaming sites.
MD of Global Pay and Play, Adam White comments, “It is my firm belief that impeccable consumer and merchant support are the key to market penetration and a sustainable longevity of our card in the gaming field.” He adds, “Card Users get a simple, secure and instant means of transferring their money into the hands of merchants without the very real concerns about hackers and loss of privacy. In 2005 we aim to push the boundaries of billing systems and make access to gambling sites more widely available than ever before.”
Victoria Polyanskaya