DuoCash Announces Virtual Coin Slot for Downloadable Games

Thursday 27 January 2005 16:17 CET | News

DuoCash, Inc., Internet commerce network operator, announced availability of Virtual Coin Slot(TM) for downloadable browser and mobile phone games.

The Virtual Coin Slot lets game developers profitably charge online consumers as little as five cents to play for a predetermined time, or number of game levels, using prepaid phone cards. DuoCash cards are already accepted by more than 40 online adventure game sites displaying the DuoCash or logo, and at hundreds of other ring-tone and non-game subscription sites. Virtual Coin Slot extends the DuoCash payment network to downloadable PC games, with minimal effort on the part of the game developer. Eliminating Market Barriers Downloadable PC games are popular. Unfortunately, 85 percent of free trial users never buy the full game. This doesnt surprise DuoCash, given that half the target market does not have a bank credit or debit card, or, fearing fraud and identity theft, wont use a bank card online. Others are reluctant to commit $20 to download a game, but would pay 25 cents to play the next level - if the game could accept their non-credit card payment. According to Albert Case, DuoCash president and CEO, My wife, Tara, came up with the concept. She loves downloading trials, but never the full version. One Saturday she downloaded a few trial games. That night we went to the local restaurant/arcade where she dropped $50 into arcade games. $50 didnt seem like a lot, since she spent 25 or 50 cents at a time. She realized how much she spent on the arcade games even though she wouldnt use a credit card to download a $20 game. The Internet becomes a virtual video arcade using the DuoCash network. Lower Deployment Costs Arcade games have higher deployment costs because of the hardware - but still profit from 25 cent and 50 cent transactions, says Case. PC games with equivalent software development costs, but no hardware cost, can be that much more profitable. Also, arcade game revenue is limited to the number of people who can drop quarters in the deployed machines; on the Internet, millions can play the same game simultaneously. Adam Lewis, DuoCash marketing director added, The economics of turning the Internet into a global, online video arcade are staggering. Our New York client LeisureTimeOnline estimates that Internet arcade revenues could easily triple current multi-user online game revenues in 24 months.

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Categories: Payments & Commerce | Mobile Payments
Countries: World
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