7 Video Game Technologies Taking Payments to the Next Level

Published November 8, 2013 3:28 PM

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Updated October 20, 2016 10:43 AM

1 Min Read

This month, Microsoft and Sony are launching new machines with a whole new take on games, movies and payments. And they're not the only ones applying video game strategies to the payments industry. (Image: ShutterStock)

Attendees stand at the Microsoft Corp. Xbox One booth at the Tokyo Game Show 2013 in Chiba, Japan, on Thursday, Sept. 19, 2013. Microsoft, the top U.S. seller of consoles for more than two years, plans to release the Xbox One in the U.S. on Nov. 22 while it will go on sale in Japan in 2014. Photographer: Kiyoshi Ota/Bloomberg

Kiyoshi Ota/Bloomberg

Xbox One

Microsoft's next Xbox will let consumers redeem vouchers by scanning a QR code replacing a system of typing in a 25-digit number from the back of a plastic card. This sets an example that many prepaid companies can follow for cash loads. (Image: Bloomberg News)

The Sony Corp. Playstation logo is displayed at the Game Developers Conference 2013 in San Francisco, California, U.S., on Wednesday, March 27, 2013. With over 22,500 attendees, the Game Developers Conference is the world's largest and longest-running professionals-only game industry event. Photographer: David Paul Morris/Bloomberg

David Paul Morris/Bloomberg

Sony PlayStation

Sony is letting gamers get funds onto its system any way they can. In the past year it has added the ability to charge game purchases to a consumer's wireless bill, and it recently expanded options for using PayPal. (Image: Bloomberg News)

A Nintendo Co. Wii U game console, left, and touch-screen controller are arranged for a photograph in front of a television screen in Kawasaki City, Kanagawa Prefecture, Japan, on Tuesday, Jan. 29, 2013. Sony Corp. and Nintendo Co., Japans biggest makers of gaming devices, rose after China Daily said the worlds most-populous country may end a 12-year ban on the sale of video-game consoles. Nintendo, the creator of Super Mario, added 3.4 percent to 9,630 yen, the highest since Dec. 7, in Osaka. Photographer: Akio Kon/Bloomberg

Akio Kon/Bloomberg

Nintendo Wii U

Nintendo's Wii U, launched last year, has a Near Field Communication reader built into the tablet-like controller. The company hasn't yet used the NFC reader for payments, but the technology is there if it ever wants to sell games by letting users tap their credit cards against the controller. (Image: Bloomberg News)

Virtual Rewards

Many games reward players with virtual currencies that can be spent within the game on characters or cosmetic upgrades. American Express is tapping into this practice with a prepaid card for League of Legends players. Spending in real life rewards players with "Riot points" that can be spent within the game. (Image: ShutterStock)

LevelUp

LevelUp drives repeat business through game-like tactics. Users can customize their LevelUp experience with colors they unlock for certain tasks, such as making a repeated purchases or visiting multiple LevelUp merchants. The ultimate prize: "Ninja Orange," a color that references the company's "chief ninja," Seth Priebatsch.

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Dynamics

Dynamics is blending gaming achievements with a high-tech payment card. Its rewards system, launched with Key Bank, lets consumers earn game pieces for making certain transactions. Users can track their progress online. (Image: ThinkStock)

LeetCoin

Launching a new currency is tough. Despite promotional moves such as Bitcoin Friday (a play on the Black Friday shopping event) and technologies such as the Bitcoin ATM, many people still prefer cash and credit cards. LeetCoin's spin is it provides people with bitcoins if they're good at video games if a LeetCoin user wins a match in the online game CounterStrike, the player gets some of the loser's bitcoin balance. (Image: ShutterStock)