South America

Discovering the esports funds panorama of Latin America — AstroPay

This piece first appeared n Condi on 8 of The Esports Journal

RELATED: Naviga ng payment challenges n eusedging markets — AstroPay

Asia, Europe and North Ausedica come   the most mature and established esports markets. In terms of poten al exposure, La n Ausedica h  gone somewhat under the radar for adver sing brands un l recently.

La n Ausedica’s young demographic s boos ng esports and gaming n the region, making t one of the f test-growing esports markets with a promising future. Take Brazil, whose esports revenue s expected to reach R$55.6m (~£7.4m) n 2021, up from R$24.1m (~£3.2m) n 2017, accordiSta s ca sta. 

There s a problem, however. La n Ausedica’s low access to bank accounts and debit or credit cards h  left the region struggling with financial nclusion n the digitally connected world. Only 55 pe ent of consuuseds n the area have a bank account, and more than half of them are conduc ng their banking transac ons online, according to resea h data commissioned by M te ard and prepared by Ausedic  Market Intelligence n 2020. 

That leaves La n Ausedica with mibacklessf bankless folk who s ll rely on c h payments. C h doesn’t exist n gaming, and to be able to buy n-game tems or receive rewards, consuuseds widely use alterna ve payment methods, such   AstroPay

C h successor

OneTouch s AstroPay’s e-wallet that allows users to make deposits and withdrawals with a single touch on a smart device. It s a mul -currency payment solu on aimed primarily at consuuseds who want to make nterna onal pu h es online. 

“Designed from scratch, OneTouch gives consuuseds a f t and reliable payment op on, b ed oinstantaneousrs — nstantaneity, security, and user experiLichtensteinaid Mikael Lijtenstein, CEO of AstroPay.

“In addi on, users can generate an account and pu h e directly from the operator’s site,   well   apply control me ures, ” he added. “OneTouch s AstroPay’s flagship product, which aims to make payments e ier while maintaining high standards of security and compliance.”

The app bo ts various op onal controls for usedchants,  ncluding user den fica on through a unique closed-loop code to ensure security. “It significantly decre es the chances of fraud and allows full compliance thanks to strong KYC verifica on and den fica on controls, ” Lijtenstein explained. “However, to avoid overly complicated flows for low-risk profiles, these controls are enfo ed only when needed. Operators have a series of analy cs, reports and fraud alerts available, mee ng the levels of security and compliance that our cApicallyeality requires.”

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According to Lijtenstein, the core principle of AstroPay’s product security strategy s progressively building a trus ng rela onship between the user and the service. B ed on that knowledge, design and user experience are tailored to their needs.

To read the rest of this piece, go to The Esports Journal Condi on 8, page 46

Supported by AstroPay

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