Bitcoin payment firm BitPay has announced a partnership with gaming giant Valve. The integration of BitPay’s payment gateway will allow the 89+ million gamers on Valve’s online gaming platform Steam, to make bitcoin purchases.
In today’s post on the BitPay blog, Rory Desmond, Director of Business Development for North America and APAC, explained that Valve needed a “fast, international payment method” for its growing user base in developing markets like Brazil and India.
Emerging market economies have much higher instance of fraud and chargebacks when it comes to CC transactions, and Valve sees the irreversible nature of bitcoin payments as a solution to this problem, “As the internet’s universal currency, Bitcoin will allow Steam to easily reach gamers in every market around the world – without the high fees or the risk of chargeback fraud that come with card payments.” writes Desmond.
Steam users will be able to make purchases without revealing sensitive personal information, which is another added benefit for Steam as well as their user base. Desmond also said that BitPay is looking to partner with other online gaming platforms.
“We look forward to partnering with more gaming platforms to make bitcoin the most popular payment method for the world’s gamers.“
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