Social Gold has entered into partnerships with direct payment methods paysafecard, Cherry Credits and Ukash to support Interac bank transfers.
Through these partnerships, Social Gold will provide support for local currency and payment methods in Canada, Europe, Asia and the Middle East. Using the Social Gold platform, customers will be able to purchase virtual goods in 20 local currencies, including Euros, Pounds, Canadian dollars, Hong Kong dollars and Australian dollars.
Additionally, Social Gold has also entered into partnerships to support payments in Canada, Australia and parts of Europe for online communities such as Nexopia, Tetris Friends and Wonderhill.
Moreover, regardless of the language or currency that customers use, Social Gold ensures that exchange rates, regulations and local fees don’t get in the way of profits and market penetration for publishers. Additionally, Social Gold provides publishers with a comprehensive payments solution as customers can purchase virtual goods using credit and debit cards, mobile payments, cash and bank transfers. Over the course of the year, Social Gold will expand their partnerships to additional growing overseas markets such as Southeast Asia and Latin America.
With these payment methods launch, Social Gold starts supporting the virtual economies for Nexopia in Canada, Wonderhill in Europe, and Tetris Friends in Canada, the UK and Australia. Going forward, Social Gold will enable these publishers to monetize different currencies and accept a variety of payment forms.
Vikas Gupta, co-founder and CEO of Social Gold, said: “One of the biggest challenges facing publishers of virtual economies is how to effectively manage global payments and currency exchanges. Our platform solves this problem because we have built direct integrations with the most relevant payment methods for customers in specific regions. Our partnerships with paysafecard, Cherry Credits, and Ukash, which ensure 100% coverage of payment methods in a specific set of regions, streamline the purchasing experience and lead to increased conversion.”
“When publishers integrate the Social Gold platform, they typically see a 30-50% lift in conversion as well as the lifetime value of customers increase to twice as long. Now with the ability to allow users to buy in their local currencies, we are also seeing a 10% lift in average order size.”
Kevin Swan of Nexopia, said: “As Canada’s largest social networking site for teens, our first priority is providing a high quality user experience, and Social Gold’s in-app payments solution enables a seamless purchasing experience for our community. We’re looking forward to gaining the feedback from our community on the new payments platform and growing our relationship with Social Gold.”