Menu
Zynga trials Bitcoin payments for in-game purchases

Zynga trials Bitcoin payments for in-game purchases

Players using the company's main portal can use bitcoin for seven games

Game developer Zynga is testing bitcoin for in-application purchases of virtual goods, becoming one of a growing number of online businesses accepting the virtual currency.

The bitcoin option is open to those playing seven games through the company's main portal, Zynga.com, which include FarmVille 2, CastleVille, ChefVille, CoasterVille, Hidden Chronicles, Hidden Shadows and CityVille, according to a company post on Reddit.

A purely digital currency, a bitcoin is essentially a secret number that is transferred from one party to another on a peer-to-peer software network using public key cryptography.

Regulators around the world are mulling how bitcoin fits into existing financial regulations. None have banned it, although some countries, such as China, have made it more difficult to move funds into exchanges that sell bitcoins. Traditional banks have so far steered clear of it.

Bitcoin poses competition to online payment services such as PayPal, which collects fees from vendors selling goods. Bitcoin has much lower transfer fees, although businesses usually want to quickly exchange their bitcoins for government-issued money because of its volatile exchange rate. That exchange does incur a fee, but bitcoin payment processors aim to undercut PayPal.

The price of a bitcoin ticked up over US$1,000 on Monday on Mt. Gox, a Japan-based bitcoin exchange.

Zynga is using BitPay, an Atlanta-based company, as its payment processor. BitPay offers a guaranteed exchange rate and regular direct deposits to merchants in 33 countries.

Online sites such as Reddit and WordPress accept bitcoins, but online giants Amazon.com and eBay -- which owns PayPal -- do not yet.

Send news tips and comments to jeremy_kirk@idg.com. Follow me on Twitter: @jeremy_kirk

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags Internet-based applications and servicesBitPaye-commerceZyngagamesinternet

Featured

Slideshows

Educating from the epicentre - Why distributors are the pulse checkers of the channel

Educating from the epicentre - Why distributors are the pulse checkers of the channel

​As the channel changes and industry voices deepen, the need for clarity and insight heightens. Market misconceptions talk of an “under pressure” distribution space, with competitors in that fateful “race for relevance” across New Zealand. Amidst the cliched assumptions however, distribution is once again showing its strength, as a force to be listened to, rather than questioned. Traditionally, the role was born out of a need for vendors and resellers to find one another, acting as a bridge between the testing lab and the marketplace. Yet despite new technologies and business approaches shaking the channel to its very core, distributors remain tied to the epicentre - providing the voice of reason amidst a seismic industry shift. In looking across both sides of the vendor and partner fences, the middle concept of the three-tier chain remains centrally placed to understand the metrics of two differing worlds, as the continual pulse checkers of the local channel. This exclusive Reseller News Roundtable, in association with Dicker Data and rhipe, examined the pivotal role of distribution in understanding the health of the channel, educating from the epicentre as the market transforms at a rapid rate.

Educating from the epicentre - Why distributors are the pulse checkers of the channel
Kiwi channel reunites as After Hours kicks off 2017

Kiwi channel reunites as After Hours kicks off 2017

After Hours made a welcome return to the channel social calendar last night, with a bumper crowd of distributors, vendors and resellers descending on The Jefferson in Auckland to kickstart 2017. Photos by Maria Stefina.

Kiwi channel reunites as After Hours kicks off 2017
Arrow exclusively introduces Tenable Network Security to A/NZ channel

Arrow exclusively introduces Tenable Network Security to A/NZ channel

Arrow Electronics introduced Tenable Network Security to local resellers in Sydney last week, officially launching the distributor's latest security partnership across Australia and New Zealand. Representing the first direct distribution agreement locally for Tenable specifically, the deal sees Arrow deliver security solutions directly to mid-market and enterprise channel partners on both sides of the Tasman.

Arrow exclusively introduces Tenable Network Security to A/NZ channel
Show Comments