G2A, a digital marketplace for game keys, have their sights set on the world of eCommerce as their plans for their payment system get ever more ambitious.
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As part of G2A’s open-doors media day on Friday, we heard from Marek Wasielewski, payments manager for G2A Pay and an eight-year veteran of PayPal Europe.
G2A Pay “is a payment gateway”, says Wasielewski, which integrates “the most important payment methods from around the globe” into one single interface. At last count, G2A Pay had absorbed over 150 different payment methods - from PayPal to major credit and debit cards to Mexican Seven-Elevens (seriously) - and they’re aiming to get over 200 some time in 2017. This would make G2A Pay “literally number one when it comes to global payment providers in the world,” says Wasielewski.
G2A Pay was initially conceived to help sellers on the G2A marketplace in various ways. Preferred payment methods vary widely around the globe - PayPal and credit cards are popular in the USA, but Poles prefer to do things by bank transfer, for instance. G2A Pay also offers different payout options, so sellers can extract their money in their preferred format.
Most significantly, however, is what Wasielewski calls the "nightmare" scenario for many smaller businesses: the possibility of parting with a product in exchange for a fraudulent payment. When the fraud is discovered, payment providers are obliged to cancel it and debit the seller's account (a 'chargeback'), leaving sellers with neither a product nor the money for it. This is exactly what happened to developer TinyBuild on G2A on a grand scale back in June. Wasielewski said he had seen many smaller businesses fold within weeks during his PayPal days after being bled by chargebacks. We'll have more on G2A's recent work in this area soon.
For more information on G2A Pay in the meantime, check out the website. Note that videogames and game key selling are hardly mentioned; the pitch is very much at the general business community.