Alternative payment platform company Rixty has been making quite a few headlines lately. Its availability to millions of online gamers and 50 secured partnerships with companies like Gameforge, OMGPOP and others has attracted Facebook to authorize it as one of the payment options for acquiring Facebook Credits. Rixty basically allows consumers to purchase virtual currency using cash and coins and is a method accepted across hundreds of MMOs and Social Games across the web. Read more after the jump.
Rixty is notably Facebook’s first cash-based payment method that it’s chosen to work with for acquiring Facebook Credits. Consumers who don’t want to deal with the hassle of credit cards and the like can exchange their spare coins at any of the 20,000 available Coinstar kiosks and retail locations nationwide for prepaid cards.
“I think there’s a lot of very social or more casual users who will identify with the opportunity to pay with cash and coins. I think it will give us a boost in terms of working within the social and casual game space,” says Joel Andren, Director of Marketing for Rixty. “Now we’re going to be in front of millions of Facebook users. It’ll definitely provide us a chance to show our value to a huge population. Twenty-five percent of that population or more doesn’t have a credit card but wants to do the same things online that their friends do.”
Rixty is a natural fit for Facebook Credits as Facebook’s demographics vary in age groups and spending patterns. According to some data from Rixty, Rixty’s pre-paid users average spending over $30 a month, including those playing social games on Facebook. These users also seem to be loyal, with most sticking around and spending the same amount even a year after their initial purchase. The average age of a Rixty user is 26 and 70% report lacking a credit card.
“With the current credit crisis in the U.S., a cash-based payment option is a must-have to maximize revenue for anyone selling online,” said Rixty CEO Ted Sorom. “Despite having cash to spend, roughly 25 percent of U.S. adults and an even higher percentage of youth are unable to use credit cards online. Mobile payments have high fees with low spending limits, and youth are still dependent on parental approval for mobile purchases. Rixty allows users of all ages to quickly and easily get their cash online for flexible spending across a huge library of online games.”
Congratulations to Rixty’s team. You can learn more about the platform here.