Over 61% Esports Companies Say Not Easy to Manage International Payments: Survey.
The Payments and the Monetization of Esports survey found that just over 61% of esports companies feel it’s not easy to manage international payments. But dealing with international regulations, exchanging currency, and processing transactions swiftly are critical to building an international fanbase.
The survey, conducted in collaboration with Nuvei and PayPal, highlighted that having a reliable provider that can help companies navigate these concerns could be a major strategic advantage. 59% of companies do not have an easy time balancing security and convenience for payments. The survey stated that too few security measures and businesses will see higher rates of fraud and chargebacks. However, too many security measures will result in customers leaving before completing purchases. Esports teams, tournament organizers, and talent agencies, on average, take around 33 days to clear payments. The survey noted that features that could automate player payouts could be a significant advantage for esports companies and vendors.
A number of esports companies are considering integrating technology into their monetization strategy. Some are looking at accepting crypto for payments, selling NFT collectibles, and even mining fan tokens. Moreover, 38% of esports companies are willing to get paid in crypto over fiat currency. But there are also concerns as the crypto market has weakened significantly. The survey outlined that volatility of value is the main reason why crypto-skeptical esports companies are not ready.