Having dozens or even hundreds of payment methods available to gamers is not enough in itself to increase conversion. The most important thing is to present players with the relevant payment method at first glance.
According to “The gamer is always right: What Gamers Think of Online Monetization” research by SuperData Inc., “payment method affects player spending depending on the market.” So, in order to encourage players to pay, you have to give them the payment methods they are looking for.
Another research by The NPD Group, which dates back to 2009, suggests that over 40% of players make impulse in-game purchases, and this figure has only grown since then. In fact, in-game purchases are mainly spontaneous because they are micro-transactions. This is why it is extremely important to make the payment process quick and smooth in order to minimize distraction from the gameplay.
The best way to achieve both goals is to have a dynamic payment page that would automatically detect both, players’ location and payment preferences.
Local Payment Methods
Presenting players with local payment methods is a smart strategy. This way, players will not be confused by a wide selection of unfamiliar payment options. It will also minimize the time players spend to find their preferred payment method and to complete the purchase.
Players in different regions have different payment habits, and those should be taken into account when choosing local payment methods. For example, in the United States credit cards and PayPal are the preferred payment options. Meanwhile, in Russia cash is king, so be sure to add cash kiosks to your payment page. Mobile payments are growing in popularity in many regions, so having local mobile carriers on the list is crucial.
An even smarter strategy is to present players with prices in their local currency. This way, they won’t need to make any calculations and won’t be taken by surprise with conversion rates when they receive the statement.
The list of local payment methods presented to players should also be organized in a smart way.
For first-time paying players, it should feature a selection of most popular local payment methods, followed by all other options.
For returning paying players, it should feature their last used payment methods first, followed by popular local payment methods, followed by other options.
An even better idea is to allow for saving of payment data for players’ preferred payment methods. Storing credit card information, mobile phone numbers, e-wallet IDs, etc. will help your returning paying players complete the transaction in one simple click.
Having integrated the dynamic payment page, make sure to check payment statistics. You will definitely notice a significant shift in the number of paying players by country, not to mention the increase conversion and your revenue.
Learn how Xsolla billing solution featuring all of the above and even more can help you improve your game monetization.